Bill Text: IL HB5639 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Provides that, whenever a taxpayer is required to create or retain a specified number of jobs in order to receive an income tax or withholding credit, that taxpayer shall report certain employment data to the Department of Employment Security, and the Department shall post the information on its website.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2014-12-03 - Session Sine Die [HB5639 Detail]

Download: Illinois-2013-HB5639-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB5639 Introduced , by Rep. William Davis SYNOPSIS AS INTRODUCED:
35 ILCS 5/247 new
Amends the Illinois Income Tax Act. Provides that, whenever a taxpayer is required to create or retain a specified number of jobs in order to receive an income tax or withholding credit, that taxpayer shall report certain employment data to the Department of Employment Security, and the Department shall post the information on its website.
LRB098 18878 HLH 54024 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
HB5639 LRB098 18878 HLH 54024 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by adding
Section 247 as follows:
(35 ILCS 5/247 new)
Sec. 247. Verification of employment data. Notwithstanding
any other provision of law, whenever a taxpayer is required to
create or retain a specified number of jobs in order to receive
a credit against either the tax imposed by subsections (a) and
(b) of Section 201 or withholding payments due under Section
704A, including, but not limited to credits awarded under the
Economic Development for a Growing Economy Tax Credit Act,
then, no later than 60 days after the last day of the taxable
year in which the taxpayer receives the credit, the taxpayer
shall report to the Department of Employment Security the total
number of jobs actually created and retained during the
previous taxable year as well as the job title of each position
created or retained and the total payroll attributable to those
positions. The Department of Employment Security shall post
this information on its website.