Bill Status of HB 1401   97th General Assembly

Short Description:  INC TX-NEW EMPLOYEE CREDIT

House Sponsors
Rep. Bill Mitchell-David Reis-John D. Cavaletto-Adam Brown-Paul Evans

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/221 new
35 ILCS 5/704A

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to $210 for each employee hired by the taxpayer during the taxable year to fill a newly created position multiplied by the number of consecutive months during which the employee is employed by the taxpayer. Provides that the taxpayer may elect to use all or a portion of the credit against its withholding tax liability. Provides that, if the amount of the credit exceeds the taxpayer's liability for the taxable year, the credit may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Effective immediately.

Actions 
DateChamber Action
  2/9/2011HouseFiled with the Clerk by Rep. Bill Mitchell
  2/14/2011HouseFirst Reading
  2/14/2011HouseReferred to Rules Committee
  2/15/2011HouseAssigned to Revenue & Finance Committee
  2/16/2011HouseAdded Chief Co-Sponsor Rep. David Reis
  2/16/2011HouseAdded Chief Co-Sponsor Rep. John D. Cavaletto
  2/28/2011HouseAdded Chief Co-Sponsor Rep. Adam Brown
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  11/10/2011HouseAdded Chief Co-Sponsor Rep. Paul Evans
  1/8/2013HouseSession Sine Die

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