Bill Title: Amends the Illinois Income Tax Act. Provides that a taxpayer who owns and operates a business in Illinois shall be allowed a credit in the amount of $3,750 per employee hired by the taxpayer and retained for 2 years. Provides that the credit may be allowed in the amount of $2,500 in the year the employee is hired and in the amount of $1,250 in the second year of employment. Provides that if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess may be carried forward and applied to the tax liability of the next 5 years. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB1497 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2013-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB1497

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB1497 currently on file.

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