|SB1659 Engrossed||LRB098 10416 HLH 40621 b|
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Illinois Income Tax Act is amended by
changing Section 216 as follows:
(35 ILCS 5/216)
Credit for wages paid to ex-felons.
(a) For each taxable year beginning on or after January 1,
2007, each taxpayer is entitled to a credit against the tax
imposed by subsections (a) and (b) of Section 201 of this Act
in an amount equal to 5% of qualified wages paid by the
taxpayer during the taxable year to one or more Illinois
residents who are qualified ex-offenders. The total credit
allowed to a taxpayer with respect to each qualified
ex-offender may not exceed
for all taxable years.
For partners, shareholders of Subchapter S corporations, and
owners of limited liability companies, if the liability company
is treated as a partnership for purposes of federal and State
income taxation, there shall be allowed a credit under this
Section to be determined in accordance with the determination
of income and distributive share of income under Sections 702
and 704 and Subchapter S of the Internal Revenue Code.
(b) For purposes of this Section, "qualified wages":