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<xml>
<title>Illinois General Assembly - Bill Status for HB 2625         </title>
<shortdesc>INC TX-MANUFACTURING JOBS</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Robert F. Martwick</sponsors>
</sponsor>
<lastaction>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/224 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Creates a credit in an amount equal to $500 for each new employee (i) who was hired by the taxpayer during the previous taxable year to perform a manufacturing job at a location in Illinois and (ii) who remains employed by the taxpayer on the last day of the current taxable year. Provides that, if a taxpayer receives such a credit and the position is relocated to an out-of-state job site within 5 years after the taxpayer receives the credit, then the taxpayer shall forfeit the amount of the credit awarded for that job. Provides that excess credit amounts may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/21/2013</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Robert F. Martwick</action>
<statusdate>2/21/2013</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/21/2013</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/4/2013</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>3/22/2013</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

