Illinois General Assembly - Bill Status for HB5962

Synopsis As Introduced
Creates the Manufacturing Job Destination Tax Credit Act and amends the Illinois Income Tax Act. Provides for a credit of 25% of the Illinois labor expenditures made by a manufacturing company in order to foster job creation and retention in Illinois. Authorizes the Department of Revenue to award a tax credit to taxpayer-employers who apply for the credit and meet certain Illinois labor expenditure requirements. Sets minimum requirements and procedures for certifying a taxpayer as an "accredited manufacturer" and for awarding the credit. Effective immediately.

Actions

Date	Chamber	Action
2/14/2014	House	Filed with the Clerk by Rep. Dwight Kay
2/14/2014	House	First Reading
2/14/2014	House	Referred to Rules Committee
12/3/2014	House	Session Sine Die

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