HB3068 - 104th General Assembly (2025-2026)

SMALL BUSINESS-INCENTIVES
Last Action
4/11/2025 - House: Rule 19(a) / Re-referred to Rules Committee
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. Amends the Small Business Job Creation Tax Credit Act. Creates a second set of incentive periods beginning on July 1, 2025 and ending on June 30, 2031. Provides that the basic wage for the second set of incentive periods is $20 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) $20,000,000 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.

House Committee Amendment No. 1
Makes changes to the introduced bill to provide that the second set of incentive periods shall begin on July 1, 2025 and end on June 30, 2028 (in the introduced bill, June 30, 2031). Provides that the aggregate amount of credits awarded under the Act shall be $7,500,000 for new employees other than returning citizens and $2,500,000 for returning citizens (in the introduced bill, $20,000,000 for new employees other than returning citizens and $5,000,000 for returning citizens).
Actions
DateChamberAction
2/06/2025HouseFiled with the Clerk by Rep. Curtis J. Tarver, II
2/06/2025HouseFirst Reading
2/06/2025HouseReferred to Rules Committee
3/04/2025HouseAssigned to Revenue & Finance Committee
3/06/2025HouseTo Tax Credit and Incentives Subcommittee
3/07/2025HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Curtis J. Tarver, II
3/07/2025HouseHouse Committee Amendment No. 1 Referred to Rules Committee
3/11/2025HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
3/20/2025HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 004-000-000
3/20/2025HouseReported Back To Revenue & Finance Committee;
3/20/2025HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
3/20/2025HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 013-007-000
3/20/2025HousePlaced on Calendar 2nd Reading - Short Debate
3/26/2025HouseSecond Reading - Short Debate
3/26/2025HouseHeld on Calendar Order of Second Reading - Short Debate
4/11/2025HouseRule 19(a) / Re-referred to Rules Committee