Bill Status of SB3185 102nd General Assembly
Short Description: INC TX-VETERANS WAGE CREDIT
Sen. Cheryl Axley - John O. Jones - Dave Syverson - David Luechtefeld - Chris Lauzen, Larry K. Bomke, Bill Brady, J. Bradley Burzynski, Kirk W. Dillard, Wendell E. Jones, John J. Millner, Carole Pankau, William E. Peterson, Edward Petka, Steven J. Rauschenberger, Todd Sieben, Frank C. Watson and Richard J. Winkel, Jr.
| 1/9/2007||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 5%, but in no event to exceed $600, of the gross wages paid by the taxpayer to a qualified veteran in the course of that veteran's sustained employment during the taxable year. Defines "qualified veteran". Provides that the credit may be carried forward for 5 taxable years. Exempts the credit from the Act's sunset provisions. Effective immediately.