Illinois General Assembly - Bill Status for SB3194
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 Bill Status of SB3194  100th General Assembly


Short Description:  INC TX-HIRE ILLINOIS CREDIT

Senate Sponsors
Sen. Paul Schimpf - Pamela J. Althoff and Scott M. Bennett

Last Action
DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/227 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates the Hire Illinois Tax Credit. Provides that a business is eligible for a $500 tax credit against its withholding tax liability for each recent graduate of a public university in the State who is hired by the taxpayer within the incentive period and retained by the taxpayer for 12 consecutive months. Provides that the $500 tax credit may be taken in both the year the qualified employee is hired and for each year of the next 4 years the qualified employee is retained by the taxpayer for 12 consecutive months. Provides 2 ways the taxpayer may take the $500 tax credit. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of these tax credits to $25,000,000. Provides for procedures for a business to apply for a certificate of eligibility for the credit and for procedures to apply for a tax credit certificate. Grants the Department of Commerce and Economic Opportunity the powers necessary or convenient to administer the tax credit. Effective immediately.

Actions 
DateChamber Action
  2/16/2018SenateFiled with Secretary by Sen. Paul Schimpf
  2/16/2018SenateFirst Reading
  2/16/2018SenateReferred to Assignments
  2/27/2018SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff
  2/27/2018SenateAssigned to Revenue
  3/1/2018SenateAdded as Co-Sponsor Sen. Scott M. Bennett
  4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018
  4/27/2018SenateRule 2-10 Committee/3rd Reading Deadline Established As May 3, 2018
  5/3/2018SenateRule 3-9(a) / Re-referred to Assignments
  1/9/2019SenateSession Sine Die

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