Illinois General Assembly - Bill Status for HB3923

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Bill Status of HB3923 99th General Assembly

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Short Description: INC TX-HIGH UNEMPLOYMENT

House Sponsors
Rep. Bill Mitchell

Last Action

Date	Chamber	Action
1/10/2017	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/203

from Ch. 120, par. 2-203

35 ILCS 5/211

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to workers' compensation costs incurred by the taxpayer that are attributable to employees of the taxpayer who are employed at a location in a county with high unemployment. Creates a credit for taxpayers who (i) are not otherwise entitled to a tax credit under the Economic Development for a Growing Economy Tax Credit Act and (ii) employ at least 5 new employees at a project location in a county with high unemployment. Provides that the amount of the credit shall be determined by multiplying the taxpayer's income tax rate by the average wage of the new employees and then multiplying the result by the number of new employees.

Actions

Date	Chamber	Action
2/27/2015	House	Filed with the Clerk by Rep. Bill Mitchell
2/27/2015	House	First Reading
2/27/2015	House	Referred to Rules Committee
3/12/2015	House	Assigned to Revenue & Finance Committee
3/13/2015	House	To Income Tax Subcommittee
3/27/2015	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2017	House	Session Sine Die

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