Bill Title: Amends the Illinois Income Tax Act. Provides that each employer that enters into a profit-sharing agreement with its employees is entitled to a credit in an amount equal to 25% of the distributions made to the employee during the taxable year under the terms of the agreement. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provision.

Sponsorship: Partisan Bill (Republican 1)

Status: (Failed) 2019-01-08 - Session Sine Die [HB0654 Detail]

Text: Latest bill text (Introduced) [HTML]

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