Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit pilot program for taxable years ending on or after December 31, 2010 and on or before December 31, 2011, granting an income tax credit to employers in an amount equal to 10% of the wages paid by the employer during the taxable year to employees (i) who are newly hired by the employer during the taxable year to work at a location in East St. Louis, Illinois and (ii) who are not younger than 18 years of age and not older than 40 years of age during the taxable year. Requires a report so that the General Assembly may consider whether to extend the credit for further tax years and to other or all areas of the State. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-02-10 - Referred to Rules Committee [HB5845 Detail]

Text: Latest bill text (Introduced) [HTML]

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