Illinois General Assembly - Bill Status for HB2430

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Bill Status of HB2430 99th General Assembly

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Short Description: INC TX-JOB CREATION CREDIT

House Sponsors
Rep. Dwight Kay

Last Action

Date	Chamber	Action
1/10/2017	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/224 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a taxpayer who owns and operates a business in Illinois shall be allowed a credit in the amount of $3,750 per employee hired by the taxpayer and retained for 2 years. Provides that the credit may be allowed in the amount of $2,500 in the year the employee is hired and in the amount of $1,250 in the second year of employment. Provides that if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess may be carried forward and applied to the tax liability of the next 5 years. Effective immediately.

Actions

Date	Chamber	Action
2/11/2015	House	Filed with the Clerk by Rep. Dwight Kay
2/17/2015	House	First Reading
2/17/2015	House	Referred to Rules Committee
3/2/2015	House	Assigned to Revenue & Finance Committee
3/6/2015	House	To Income Tax Subcommittee
3/27/2015	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2017	House	Session Sine Die

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