Bill Status of HB5757 97th General Assembly
Short Description: INC TX-HEAD COUNT CREDIT
Rep. Monica Bristow, Natalie Phelps Finnie, Jerry Costello, II, Deb Conroy, Katie Stuart, Martin J. Moylan, Sue Scherer, Sam Yingling, Michelle Mussman and Justin Slaughter
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for an Illinois business that increases its average full-time employee head count in the State for the taxable year by more than 20% over its average full-time employee head count in the State for the immediately preceding taxable year. Provides that the amount of the credit is 20% of its tax liability under this Act (other than its withholding tax liability) for the taxable year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.