Bill Status of HB0227 101st General Assembly
Short Description: INC TX-INTERNSHIP CREDIT
Rep. Thomas M. Bennett - Karina Villa, Jawaharial Williams, Kambium Buckner, Curtis J. Tarver, II, Sam Yingling and Jonathan "Yoni" Pizer
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to 10% of the stipend or salary paid by the taxpayer to up to (i) 5 qualified college interns or (ii) 5 qualified high school interns during the taxable year. Provides that no taxpayer may claim more than $5,000 in total credits under that Section for all taxable years combined. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.