Bill Status of HB1072 98th General Assembly
Short Description: INC TX-TRAINING EXPENSE CREDIT
Rep. Lou Lang - Derrick Smith
| 12/3/2014||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Reinstates the training expense credit for tax years ending on or after December 31, 2013 and on or before December 30, 2023. Increases the amount of the credit from 1.6% of training expenses to 2% of training expenses. Provides that the training expense credit earned on or after December 31, 2013 may be carried forward. Effective immediately.