Bill Text: IL HB1594 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for an Illinois business that increases its average full-time employee head count in the State for the taxable year by more than 20% over its average full-time employee head count in the State for the immediately preceding taxable year. Provides that the amount of the credit is 20% of its tax liability under this Act (other than its withholding tax liability) for the taxable year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Spectrum: Partisan Bill (Democrat 37-0)

Status: (Introduced - Dead) 2019-08-29 - Added Co-Sponsor Rep. Anna Moeller [HB1594 Detail]

Download: Illinois-2019-HB1594-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB1594 Introduced , by Rep. Monica Bristow SYNOPSIS AS INTRODUCED:
35 ILCS 5/229 new
Amends the Illinois Income Tax Act. Creates an income tax credit for an Illinois business that increases its average full-time employee head count in the State for the taxable year by more than 20% over its average full-time employee head count in the State for the immediately preceding taxable year. Provides that the amount of the credit is 20% of its tax liability under this Act (other than its withholding tax liability) for the taxable year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by adding
Section 229 as follows:
(35 ILCS 5/229 new)
Sec. 229. Credit for increasing employee head count.
(a) For taxable years ending on or after December 31, 2019,
if an Illinois business increases its average full-time
employee head count in the State for the taxable year by more
than 20% over its average full-time employee head count in the
State for the immediately preceding taxable year, then that
business is entitled to a credit against the taxes imposed by
subsections (a) and (b) of Section 201 in an amount equal to
20% of its tax liability under this Act (other than its
liability under Article 7 of this Act) for the taxable year.
(b) Partners, shareholders of subchapter S corporations,
and owners of limited liability companies (if the limited
liability company is treated as a partnership for purposes of
federal and State income taxation) are entitled to a credit
under this Section to be determined in accordance with the
determination of income and distributive share of income under
Sections 702 and 703 and subchapter S of the Internal Revenue

HB1594 - 2 - LRB101 07042 HLH 52078 b
Code.
(c) As used in this Act, a person is considered a full-time
employee if the person is employed for consideration for at
least 35 hours each week or renders any other standard of
service generally accepted by industry custom or practice as
full-time employment.
(d) This Section is exempt from the provisions of Section
250.
Section 99. Effective date. This Act takes effect upon
becoming law.