Bill Title: Amends the Illinois Income Tax Act. Creates the Hire Illinois Tax Credit. Provides that a business is eligible for a $500 tax credit against its withholding tax liability for each recent graduate of a public university in the State who is hired by the taxpayer within the incentive period and retained by the taxpayer for 12 consecutive months. Provides that the $500 tax credit may be taken in both the year the qualified employee is hired and for each year of the next 4 years the qualified employee is retained by the taxpayer for 12 consecutive months. Provides 2 ways the taxpayer may take the $500 tax credit. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of these tax credits to $25,000,000. Provides for procedures for a business to apply for a certificate of eligibility for the credit and for procedures to apply for a tax credit certificate. Grants the Department of Commerce and Economic Opportunity the powers necessary or convenient to administer the tax credit. Effective immediately.

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Failed) 2019-01-09 - Session Sine Die [SB3194 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Paul Schimpf [R]	Primary	Sponsored Bills	SD-058	FollowTheMoney	Ballotpedia	VoteSmart
Senator Pamela Althoff [R]	Cosponsor	Sponsored Bills	SD-032	FollowTheMoney	Ballotpedia	VoteSmart
Senator Scott Bennett [D]	Cosponsor	Sponsored Bills	SD-052	FollowTheMoney	Ballotpedia	VoteSmart

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