Bill Status of HB2900 101.th General Assembly
Short Description: INC TX-WITHHOLDING
Rep. Anthony DeLuca - Jerry Costello, II - Monica Bristow - Terra Costa Howard - Michael Halpin, Diane Pappas, Lance Yednock, Jonathan Carroll, Katie Stuart and Barbara Hernandez
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act if and only if Senate Bill 1 of the 101st General Assembly becomes law. Provides that a withholding tax credit for full-time equivalent employees created in Senate Bill 1 applies for reporting periods that begin on or after January 1, 2020 (in the bill, reporting periods that begin on or after January 1, 2020 and end on or before December 31, 2027). Provides that the maximum credit is determined by the Metropolitan and Nonmetropolitan area of the State that is the base of operations of the employee, as those areas are determined as of May 2017. Makes changes concerning the amount of the credit based on the Metropolitan and Nonmetropolitan area of the State. Effective immediately.