Illinois General Assembly - Bill Status for HB1401

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Bill Status of HB1401 97th General Assembly

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Short Description: INC TX-NEW EMPLOYEE CREDIT

House Sponsors
Rep. Bill Mitchell - David Reis - John D. Cavaletto - Adam Brown - Paul Evans

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/221 new

35 ILCS 5/704A

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to $210 for each employee hired by the taxpayer during the taxable year to fill a newly created position multiplied by the number of consecutive months during which the employee is employed by the taxpayer. Provides that the taxpayer may elect to use all or a portion of the credit against its withholding tax liability. Provides that, if the amount of the credit exceeds the taxpayer's liability for the taxable year, the credit may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Effective immediately.

Actions

Date	Chamber	Action
2/9/2011	House	Filed with the Clerk by Rep. Bill Mitchell
2/14/2011	House	First Reading
2/14/2011	House	Referred to Rules Committee
2/15/2011	House	Assigned to Revenue & Finance Committee
2/16/2011	House	Added Chief Co-Sponsor Rep. David Reis
2/16/2011	House	Added Chief Co-Sponsor Rep. John D. Cavaletto
2/28/2011	House	Added Chief Co-Sponsor Rep. Adam Brown
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
11/10/2011	House	Added Chief Co-Sponsor Rep. Paul Evans
1/8/2013	House	Session Sine Die

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