Illinois General Assembly - Bill Status for HB1160

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Bill Status of HB1160 97th General Assembly

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Short Description: INC TX-HIRE ILLINOIS CREDIT

House Sponsors
Rep. Richard Morthland

Last Action

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

Statutes Amended In Order of Appearance

35 ILCS 5/221 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates the Hire Illinois Tax Credit. Provides that a business is eligible for a $1,500 tax credit for each recent graduate of an Illinois college or university it hires within a taxable year. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of these tax credits to $15,000,000. 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. Provides that a business shall submit a copy of the tax credit certificate to the Department of Revenue with its return. Grants the Department of Commerce and Economic Opportunity powers necessary or convenient to administer the tax credit. Applies only to taxable years 2011 and 2012. Effective immediately.

Actions

Date	Chamber	Action
2/8/2011	House	Filed with the Clerk by Rep. Richard Morthland
2/8/2011	House	First Reading
2/8/2011	House	Referred to Rules Committee
2/14/2011	House	Assigned to Revenue & Finance Committee
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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