Bill Title: Amends the Property Tax Code. Provides that, for taxing districts in counties with more than 700,000 inhabitants but fewer than 710,000 inhabitants, the limiting rate under the Property Tax Extension Limitation Law shall be the lesser of (i) the limiting rate as otherwise calculated under that Law or (ii) 2.5 times the median aggregate tax rate for all taxing districts within the county. Amends the Illinois Income Tax Act. Creates an income tax credit for businesses in an amount not to exceed $5,000 for each new full-time employee hired by the taxpayer in calendar year 2017 or 2018 to work at a location in a county with more than 700,000 inhabitants but fewer than 710,000 inhabitants. Provides that, of the $5,000 credit amount, (i) $3,000 is allowed as a credit for the taxable year in which the employee was hired if the employee remains employed by the taxpayer on the last day of the taxable year and (ii) $2,000 is allowed as a credit for the following taxable year if the employee remains employed by the employer on the last day of that taxable year. Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB3160 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Sheri Jesiel [R]	Primary	Sponsored Bills	HD-061	FollowTheMoney	Ballotpedia	VoteSmart
Representative Barbara Wheeler [R]	Cosponsor	Sponsored Bills	HD-064	FollowTheMoney	Ballotpedia	VoteSmart

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