Date	Chamber	Action
1/7/2025	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 25/10

35 ILCS 25/25

35 ILCS 25/30

35 ILCS 25/35

35 ILCS 25/45

Synopsis As Introduced
Amends the Small Business Job Creation Tax Credit Act. Creates a second set of incentive periods beginning on July 1, 2024 and ending on June 30, 2030. Provides that the basic wage for the second set of incentive periods is $15 per hour. Provides that the credit may not exceed $2,500 per new employee hired, except that, if the new employee is a returning citizen, then the credit for that employee may not exceed $3,500. Provides that the term "returning citizen" means an individual who (i) is a resident of Illinois, (ii) was formerly incarcerated in a federal, State, or local correctional institution, and (iii) is a new employee. Provides that the aggregate amount of credits that may be awarded under the Act is (i) $50,000,000 for new employees other than returning citizens and (ii) $5,000,000 for returning citizens. Adds provisions concerning recapture of the credit if the employee is terminated by the taxpayer within one year after the credit is awarded. Effective immediately.

Actions 

Date	Chamber	Action
1/31/2024	House	Filed with the Clerk by Rep. Curtis J. Tarver, II
2/6/2024	House	First Reading
2/6/2024	House	Referred to Rules Committee
1/7/2025	House	Session Sine Die

Back To Top