Bill Status of SB 164   103rd General Assembly


Short Description:  INCOME TAX-EMPLOYMENT CREDIT

Senate Sponsors
Sen. Ram Villivalam

Last Action  View All Actions

DateChamber Action
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/234 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for an employer who hires a qualified employee to work at a location in the State. Sets forth the amount of the credit. Provides that the credit shall be increased if (i) the qualified employee is hired to work at a location in a disproportionately impacted area or (ii) the qualified employee resides, on the date the employee is hired, in a disproportionately impacted area. Limits the total amount of income tax credits that the Department of Commerce and Economic Opportunity may issue over the duration of the program. Provides that the term "qualified employee" means a resident of the State who is hired by the taxpayer to fill a full-time net new job and was unemployed as a result of COVID-19 prior to the date he or she was hired by the taxpayer. Provides that the term "qualified employee" does not include an individual who was furloughed by the taxpayer. Effective immediately.

Actions 
DateChamber Action
  1/31/2023SenateFiled with Secretary by Sen. Ram Villivalam
  1/31/2023SenateFirst Reading
  1/31/2023SenateReferred to Assignments
  2/7/2023SenateAssigned to Revenue
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments

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