Bill Title: Creates the Business and Employment Development Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may certify a business as eligible for an income tax credit under the Act and may award credits to certified businesses. Sets forth the amount of the credit, which is calculated as a percentage of the wages paid to new or retained full-time and part-time employees. Provides that the duration of the credit is 5 taxable years, except that the credit may be carried forward for 5 years. Contains provisions concerning recapture of the credit. Amends the Illinois Income Tax Act to make conforming changes. Provides that the Business and Employment Development Tax Credit is exempt from the Act's automatic sunset provision. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2016-05-13 - Rule 3-9(a) / Re-referred to Assignments [SB3009 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-02-18	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3009

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3009 currently on file.

Social Comments on IL SB3009