Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall issue income tax credits, with certification, to qualified professional design firms in Illinois that hire qualified employees. Provides that the tax credit amount shall be (i) 10% of the qualified compensation paid to each qualified employee who graduated from an accredited institution of higher learning in the State and (ii) 5% of the qualified compensation paid to each qualified employee who graduated from an accredited institution of higher learning outside of the State. Provides that "qualified employee" means an employee working in the State for a qualified professional design firm as an architect, an architectural associate, a structural engineer, a structural engineer intern, a design professional, or an engineer intern who graduated from an accredited institution of higher learning with a Bachelor's degree within the 2 years immediately preceding the year in which the credit is taken. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB2498 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2021-02-17	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB2498

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB2498 currently on file.

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