Illinois House Bill 2425

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 14 2023 - 25% progression
Action: 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who employ qualified employees. Provides that the term "qualified employee" means an individual who (i) is employed by the taxpayer as an engineer and (ii) graduated from an engineering program at an accredited institution of higher learning with a Bachelor's degree or higher within the 5 years immediately preceding the taxable year. Provides that the credit shall be equal to (i) 10% of the compensation paid by the taxpayer during the taxable year to qualified employees who graduated from an engineering program at an accredited institution of higher learning in Illinois or (ii) 5% of the compensation paid by the taxpayer during the taxable year to qualified employees who graduated from an engineering program an accredited institution of higher learning not located in Illinois. Effective immediately.

INC TX-ENGINEERING STUDENTS

Rep. Martin Moylan [D]

Rep. Nabeela Syed [D]

Date	Chamber	Action
2023-03-10	House	Rule 19(a) / Re-referred to Rules Committee
2023-03-09	House	To Revenue-Income Tax Subcommittee
2023-02-28	House	Assigned to Revenue & Finance Committee
2023-02-24	House	Added Chief Co-Sponsor Rep. Nabeela Syed
2023-02-15	House	Referred to Rules Committee
2023-02-15	House	First Reading
2023-02-14	House	Filed with the Clerk by Rep. Martin J. Moylan

Chapter	Article	Section	Citation Type	Statute Text
35	5	234	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2425&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB2425.htm