Bill Text: IL HB5759 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 20%, but in no event to exceed $2,000, of the gross wages paid by the taxpayer during the taxable year to each creditable employee. Provides that a "creditable employee" is an employee who: (1) was employed by the taxpayer for the first time on or after the effective date of the amendatory Act; (2) completed his or her twenty-fourth consecutive month of employment with the taxpayer during the taxable year; (3) received unemployment benefits in this State for at least 2 months immediately prior to being hired by the taxpayer; and (4) was employed at a location in this State for at least 30 hours per week during the entire 24-month period of his or her employment with the taxpayer. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB5759 Detail]

Download: Illinois-2017-HB5759-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 HB5759 Introduced , by Rep. Monica Bristow SYNOPSIS AS INTRODUCED:
35 ILCS 5/227 new
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 20%, but in no event to exceed $2,000, of the gross wages paid by the taxpayer during the taxable year to each creditable employee. Provides that a "creditable employee" is an employee who: (1) was employed by the taxpayer for the first time on or after the effective date of the amendatory Act; (2) completed his or her twenty-fourth consecutive month of employment with the taxpayer during the taxable year; (3) received unemployment benefits in this State for at least 2 months immediately prior to being hired by the taxpayer; and (4) was employed at a location in this State for at least 30 hours per week during the entire 24-month period of his or her employment with the taxpayer. Effective immediately.
LRB100 18047 HLH 33236 b
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 227 as follows:
(35 ILCS 5/227 new)
Sec. 227. Jobs development incentive tax credit.
(a) As used in this Section:
"Creditable employee" means an employee of the taxpayer who
meets all of the following criteria:
(1) he or she was employed by the taxpayer for the
first time on or after the effective date of this
amendatory Act of the 100th General Assembly;
(2) he or she completed his or her twenty-fourth
consecutive month of employment with the taxpayer during
the taxable year;
(3) he or she received unemployment benefits in this
State for at least 2 months immediately prior to being
hired by the taxpayer; and
(4) he or she was employed at a location in this State
for at least 30 hours per week during the entire 24-month
period of his or her employment with the taxpayer.
(b) A taxpayer is entitled to a credit against the taxes

HB5759 - 2 - LRB100 18047 HLH 33236 b
imposed by subsections (a) and (b) of Section 201 in an amount
equal to 20%, but in no event to exceed $2,000, of the gross
wages paid by the taxpayer during the taxable year to each
creditable employee.
(c) If the taxpayer is a partnership, subchapter S
corporation, or limited liability company with pass-through
tax treatment, the credit shall be allowed to the partners,
shareholders, or members in accordance with the determination
of income and distributive share of income under Sections 702
and 704 and subchapter S of the Internal Revenue Code.
(d) The credit may not be carried back and may not reduce
the taxpayer's liability to less than zero. If the amount of
the credit exceeds the tax liability for the year, the excess
may be carried forward and applied to the tax liability of the
5 taxable years following the excess credit year. The tax
credit shall be applied to the earliest year for which there is
a tax liability. If there are credits for more than one year
that are available to offset the liability, the earlier credit
shall be applied first.
(e) This Section is exempt from the provisions of Section
250.
Section 99. Effective date. This Act takes effect upon
becoming law.