Bill Text: IL HB4289 | 2013-2014 | 98th General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Creates a credit for wages paid pursuant to a qualified apprenticeship program. Provides that a "qualified apprenticeship program" means an apprenticeship program in manufacturing, plastics, or construction trades that is certified by the Department of Commerce and Economic Opportunity and at least 4 years in duration. Provides that the credit may not exceed the lesser of (i) 50% of the wages paid by the taxpayer to each apprentice during the taxable year or (ii) $4,800 per apprentice. Provides that the credit may be carried forward for 5 taxable years. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2014-12-03 - Session Sine Die [HB4289 Detail]
Download: Illinois-2013-HB4289-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Income Tax Act is amended by adding | ||||||||||||||||||||||||
5 | Section 224 as follows:
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6 | (35 ILCS 5/224 new) | ||||||||||||||||||||||||
7 | Sec. 224. Manufacturing apprenticeship training credit. | ||||||||||||||||||||||||
8 | (a) For tax years
beginning on or after January 1, 2015, a | ||||||||||||||||||||||||
9 | taxpayer shall be allowed a credit against the tax imposed by | ||||||||||||||||||||||||
10 | subsections (a) and (b)
of Section 201 for certain amounts paid
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11 | by the taxpayer as wages pursuant to a qualified apprenticeship | ||||||||||||||||||||||||
12 | program. The credit may not exceed the lesser of (i) 50% of the | ||||||||||||||||||||||||
13 | wages paid by the taxpayer to each apprentice during the | ||||||||||||||||||||||||
14 | taxable year or (ii) $4,800 per apprentice. The taxpayer shall | ||||||||||||||||||||||||
15 | apply with the Department of Commerce and Economic Opportunity | ||||||||||||||||||||||||
16 | annually for certification as a "qualified apprenticeship | ||||||||||||||||||||||||
17 | program". The application shall be in the form and manner | ||||||||||||||||||||||||
18 | prescribed by the Department of Commerce and Economic | ||||||||||||||||||||||||
19 | Opportunity. | ||||||||||||||||||||||||
20 | (b) For partners, shareholders of Subchapter S | ||||||||||||||||||||||||
21 | corporations, and owners of limited liability companies, if the | ||||||||||||||||||||||||
22 | liability company is treated as a partnership for purposes of | ||||||||||||||||||||||||
23 | federal and State income taxation, the credit under this |
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1 | Section shall be determined in accordance with the | ||||||
2 | determination of income and distributive share of income under | ||||||
3 | Sections 702 and 704 and Subchapter S of the Internal Revenue | ||||||
4 | Code. | ||||||
5 | (c) In no event shall a credit under this Section reduce | ||||||
6 | the taxpayer's liability to less than zero. If the amount of | ||||||
7 | the credit exceeds the tax liability for the year, the excess | ||||||
8 | may be carried forward and applied to the tax liability of the | ||||||
9 | 5 taxable years following the excess credit year. The tax | ||||||
10 | credit shall be applied to the earliest year for which there is | ||||||
11 | a tax liability. If there are credits for more than one year | ||||||
12 | that are available to offset a liability, the earlier credit | ||||||
13 | shall be applied first. | ||||||
14 | (d) For the purposes of this Section, "qualified | ||||||
15 | apprenticeship program" means an apprenticeship program in | ||||||
16 | manufacturing, plastics, or construction trades that is | ||||||
17 | certified by the Department of Commerce and Economic | ||||||
18 | Opportunity under this Section and at least 4 years in | ||||||
19 | duration. | ||||||
20 | (e) This Section is exempt from the provisions of Section | ||||||
21 | 250.
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22 | Section 99. Effective date. This Act takes effect upon | ||||||
23 | becoming law.
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