Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to $210 for each employee hired by the taxpayer during the taxable year to fill a newly created position multiplied by the number of consecutive months during which the employee is employed by the taxpayer. Provides that the taxpayer may elect to use all or a portion of the credit against its withholding tax liability. Provides that, if the amount of the credit exceeds the taxpayer's liability for the taxable year, the credit may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Effective immediately.

Spectrum: Moderate Partisan Bill (Republican 4-1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB1401 Detail]

Text: Latest bill text (Introduced) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Bill Mitchell [R]	Primary	Sponsored Bills	HD-101	FollowTheMoney	Ballotpedia	VoteSmart
Representative David Reis [R]	Cosponsor	Sponsored Bills	HD-109	FollowTheMoney	Ballotpedia	VoteSmart
Representative John Cavaletto [R]	Cosponsor	Sponsored Bills	HD-107	FollowTheMoney	Ballotpedia	VoteSmart
Representative Adam Brown [R]	Cosponsor	Sponsored Bills	HD-102	FollowTheMoney	Ballotpedia	VoteSmart
Representative Paul Evans [D]	Cosponsor	Sponsored Bills	HD-102	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL HB1401