98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5639

 

Introduced , by Rep. William Davis

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/247 new

    Amends the Illinois Income Tax Act. Provides that, whenever a taxpayer is required to create or retain a specified number of jobs in order to receive an income tax or withholding credit, that taxpayer shall report certain employment data to the Department of Employment Security, and the Department shall post the information on its website.


LRB098 18878 HLH 54024 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5639LRB098 18878 HLH 54024 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by adding
5Section 247 as follows:
 
6    (35 ILCS 5/247 new)
7    Sec. 247. Verification of employment data. Notwithstanding
8any other provision of law, whenever a taxpayer is required to
9create or retain a specified number of jobs in order to receive
10a credit against either the tax imposed by subsections (a) and
11(b) of Section 201 or withholding payments due under Section
12704A, including, but not limited to credits awarded under the
13Economic Development for a Growing Economy Tax Credit Act,
14then, no later than 60 days after the last day of the taxable
15year in which the taxpayer receives the credit, the taxpayer
16shall report to the Department of Employment Security the total
17number of jobs actually created and retained during the
18previous taxable year as well as the job title of each position
19created or retained and the total payroll attributable to those
20positions. The Department of Employment Security shall post
21this information on its website.