IL HB5320 | 2021-2022 | 102nd General Assembly

Status

Spectrum: Slight Partisan Bill (Democrat 11-5)
Status: Introduced on January 28 2022 - 25% progression, died in committee
Action: 2022-04-06 - Added Co-Sponsor Rep. Sam Yingling
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that, for the purposes of calculating a credit against withholding taxes for employers with 50 or fewer full-time equivalent employees, for reporting periods beginning on or after January 1, 2022 and ending on or before December 31, 2024, the maximum credit is 25% of the difference between the amount of compensation paid in Illinois to employees who are paid not more than the required minimum wage reduced by the amount of compensation paid in Illinois to employees who were paid less than the current required minimum wage during the reporting period prior to each increase in the required minimum wage on January 1 (currently: 17% in calendar year 2022; 13% in calendar year 2023; and 9% in calendar year 2024). Effective immediately.

Tracking Information

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Title

INC TX-MINIMUM WAGE CREDIT

Sponsors


History

DateChamberAction
2022-04-06HouseAdded Co-Sponsor Rep. Sam Yingling
2022-04-01HouseAdded Co-Sponsor Rep. Maurice A. West, II
2022-03-30HouseAdded Co-Sponsor Rep. Dave Vella
2022-02-18HouseRule 19(a) / Re-referred to Rules Committee
2022-02-16HouseAdded Co-Sponsor Rep. Kelly M. Burke
2022-02-16HouseAdded Co-Sponsor Rep. Tony McCombie
2022-02-16HouseAdded Co-Sponsor Rep. Elizabeth Hernandez
2022-02-16HouseAdded Co-Sponsor Rep. Janet Yang Rohr
2022-02-15HouseTo Income Tax Subcommittee
2022-02-15HouseAdded Co-Sponsor Rep. Kambium Buckner
2022-02-15HouseAdded Co-Sponsor Rep. Michael Halpin
2022-02-15HouseAdded Co-Sponsor Rep. David A. Welter
2022-02-14HouseAdded Co-Sponsor Rep. Barbara Hernandez
2022-02-09HouseAdded Co-Sponsor Rep. Amy Grant
2022-02-09HouseAdded Co-Sponsor Rep. Tim Butler
2022-02-09HouseAssigned to Revenue & Finance Committee
2022-02-04HouseAdded Chief Co-Sponsor Rep. Mark Batinick
2022-02-03HouseAdded Chief Co-Sponsor Rep. Terra Costa Howard
2022-01-31HouseReferred to Rules Committee
2022-01-31HouseFirst Reading
2022-01-28HouseFiled with the Clerk by Rep. Margaret Croke

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355704AAmended CodeCitation Text

Illinois State Sources


Bill Comments

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