Illinois General Assembly - Bill Status for HB3574

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Bill Status of HB3574 97th General Assembly

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Short Description: INC TX-JOB CREATION CREDIT

House Sponsors
Rep. Thomas Morrison - Dwight Kay - Adam Brown - Richard Morthland - John D. Cavaletto, Pam Roth, Sidney H. Mathias, Jason Barickman, Renée Kosel, Patricia R. Bellock, Darlene J. Senger, Sandra M. Pihos and Jil Tracy

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/221 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a taxpayer who owns and operates a business in Illinois shall be allowed a credit against the tax imposed by subsections (a) and (b) of Section 201 in the amount of $3,750 per employee hired by the taxpayer and retained for 2 years. Provides that the credit may be allowed in the amount of $2,500 in the year the employee is hired and in the amount of $1,250 in the second year of employment. Provides that if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess may be carried forward and applied to the tax liability of the next 5 years. Effective immediately.

Actions

Date	Chamber	Action
2/24/2011	House	Filed with the Clerk by Rep. Thomas Morrison
2/24/2011	House	Chief Co-Sponsor Rep. Dwight Kay
2/24/2011	House	Chief Co-Sponsor Changed to Rep. Adam Brown
2/24/2011	House	Chief Co-Sponsor Rep. Sidney H. Mathias
2/24/2011	House	Chief Co-Sponsor Rep. John D. Cavaletto
2/24/2011	House	Co-Sponsor Rep. Pam Roth
2/24/2011	House	Co-Sponsor Rep. Sidney H. Mathias
2/24/2011	House	Co-Sponsor Rep. Jason Barickman
2/24/2011	House	Co-Sponsor Rep. Renée Kosel
2/24/2011	House	Co-Sponsor Rep. Patricia R. Bellock
2/24/2011	House	Co-Sponsor Rep. Darlene J. Senger
2/24/2011	House	Co-Sponsor Rep. Sandra M. Pihos
2/24/2011	House	Co-Sponsor Rep. Jil Tracy
2/24/2011	House	First Reading
2/24/2011	House	Referred to Rules Committee
3/3/2011	House	Assigned to Revenue & Finance Committee
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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