Illinois General Assembly

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 Bill Status of HB3574  97th General Assembly


Short Description:  INC TX-JOB CREATION CREDIT

House Sponsors
Rep. Thomas Morrison - Dwight Kay - Adam Brown - Richard Morthland - John D. Cavaletto, Pam Roth, Sidney H. Mathias, Jason Barickman, Renée Kosel, Patricia R. Bellock, Darlene J. Senger, Sandra M. Pihos and Jil Tracy

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/221 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 against the tax imposed by subsections (a) and (b) of Section 201 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 
DateChamber Action
  2/24/2011HouseFiled with the Clerk by Rep. Thomas Morrison
  2/24/2011HouseChief Co-Sponsor Rep. Dwight Kay
  2/24/2011HouseChief Co-Sponsor Changed to Rep. Adam Brown
  2/24/2011HouseChief Co-Sponsor Rep. Sidney H. Mathias
  2/24/2011HouseChief Co-Sponsor Rep. John D. Cavaletto
  2/24/2011HouseCo-Sponsor Rep. Pam Roth
  2/24/2011HouseCo-Sponsor Rep. Sidney H. Mathias
  2/24/2011HouseCo-Sponsor Rep. Jason Barickman
  2/24/2011HouseCo-Sponsor Rep. Renée Kosel
  2/24/2011HouseCo-Sponsor Rep. Patricia R. Bellock
  2/24/2011HouseCo-Sponsor Rep. Darlene J. Senger
  2/24/2011HouseCo-Sponsor Rep. Sandra M. Pihos
  2/24/2011HouseCo-Sponsor Rep. Jil Tracy
  2/24/2011HouseFirst Reading
  2/24/2011HouseReferred to Rules Committee
  3/3/2011HouseAssigned to Revenue & Finance Committee
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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