Bill Sponsors: IL SB2698 | 2013-2014 | 98th General Assembly
Bill Title: Amends the Illinois Income Tax Act. Provides that each taxpayer who employs a long-term unemployed person during the taxable year is entitled to an income tax credit of: (1) $500 in the taxable year in which the long-term unemployed person is initially hired by the taxpayer; (2) $750 in the first taxable year after the long-term unemployed person is initially hired by the taxpayer; and (3) $1,250 in the second taxable year after the long-term unemployed person is initially hired by the taxpayer. Provides that the taxpayer may receive a partial credit if the person is employed by the taxpayer for only part of a taxable year. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.
Spectrum: Moderate Partisan Bill (Democrat 14-3)
Status: (Failed) 2015-01-13 - Session Sine Die [SB2698 Detail]
Text: Latest bill text (Engrossed) [HTML]
Spectrum: Moderate Partisan Bill (Democrat 14-3)
Status: (Failed) 2015-01-13 - Session Sine Die [SB2698 Detail]
Text: Latest bill text (Engrossed) [HTML]