Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who employ qualified employees. Provides that the term "qualified employee" means an individual who (i) is employed by the taxpayer as an engineer and (ii) graduated from an engineering program at an accredited institution of higher learning with a Bachelor's degree or higher within the 5 years immediately preceding the taxable year. Provides that the credit shall be equal to (i) 10% of the compensation paid by the taxpayer during the taxable year to qualified employees who graduated from an engineering program at an accredited institution of higher learning in Illinois or (ii) 5% of the compensation paid by the taxpayer during the taxable year to qualified employees who graduated from an engineering program an accredited institution of higher learning not located in Illinois. Effective immediately.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Failed) 2025-01-07 - Session Sine Die [HB2425 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-14	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB2425

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB2425 currently on file.