Bill Status of HB3415 95th General Assembly
Short Description: MANUFACTURING JOB CREDIT
Rep. Ruth Munson - Paul D. Froehlich - William Davis - Arthur L. Turner - Aaron Schock, Carolyn H. Krause, Sandra M. Pihos, Kathleen A. Ryg, Rosemary Mulligan, JoAnn D. Osmond, Jil Tracy, Suzanne Bassi, Dennis M. Reboletti, Franco Coladipietro, Harry R. Ramey, Jr., David Reis, Wyvetter H. Younge, Esther Golar, David E. Miller and Milton Patterson
| 1/13/2009||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Manufacturing Job Destination Tax Credit Act and amends the Illinois Income Tax Act. Provides for a credit of 25% of the Illinois labor expenditures made by a manufacturing company in order to foster job creation and retention in Illinois. Authorizes the Department of Revenue to award a tax credit to taxpayer-employers who apply for the credit and meet the certain Illinois labor expenditure requirements. Sets minimum requirements and procedures for certifying a taxpayer as an "accredited manufacturer" and for awarding the credit. Effective January 1, 2008.