Bill Title: Amends the Illinois Income Tax Act. Provides that each taxpayer who employs a long-term unemployed person during the taxable year is entitled to an income tax credit of: (1) $500 in the taxable year in which the long-term unemployed person is initially hired by the taxpayer; (2) $750 in the first taxable year after the long-term unemployed person is initially hired by the taxpayer; and (3) $1,250 in the second taxable year after the long-term unemployed person is initially hired by the taxpayer. Provides that the credit for individuals who are employed by the taxpayer for a partial year shall be calculated based on the number of weeks of employment. Provides that the credit may be carried forward. Provides that the term "long-term unemployed person" means a person who was unemployed for a period of at least 27 consecutive weeks ending on the Saturday immediately preceding the date he or she was hired by the taxpayer, was an Illinois resident on the date he or she was hired by the taxpayer, is employed by the taxpayer during the taxable year as a full-time employee, and was not enrolled as a full-time student at a public or private high school, community college, or university at any point during the 27-week period immediately preceding the date he or she was hired by the taxpayer. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.

Spectrum: Strong Partisan Bill (Democrat 17-1)

Status: (Introduced - Dead) 2016-01-04 - Added Co-Sponsor Rep. Andrew F Skoog [HB0144 Detail]

Text: Latest bill text (Introduced) [HTML]

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