Bill Status of HB 5803   97th General Assembly

Short Description:  INC TX-JOB CREATION CREDIT

House Sponsors
Rep. Dwight Kay-Sidney H. Mathias-Kent Gaffney-Paul Evans-Mike Bost, Renée Kosel and John D. Cavaletto

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/223 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a taxpayer who owns and operates a business in Illinois shall be allowed a credit in the amount of $3,750 per employee hired by the taxpayer and retained for 2 years. Provides that the credit may be allowed in the amount of $2,500 in the year the employee is hired and in the amount of $1,250 in the second year of employment. Provides that if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess may be carried forward and applied to the tax liability of the next 5 years. Effective immediately.

Actions 
DateChamber Action
  2/16/2012HouseFiled with the Clerk by Rep. Dwight Kay
  2/16/2012HouseFirst Reading
  2/16/2012HouseReferred to Rules Committee
  2/23/2012HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias
  2/28/2012HouseAdded Chief Co-Sponsor Rep. Kent Gaffney
  2/28/2012HouseAdded Chief Co-Sponsor Rep. Paul Evans
  2/28/2012HouseAdded Chief Co-Sponsor Rep. Mike Bost
  2/28/2012HouseAdded Co-Sponsor Rep. Renée Kosel
  2/28/2012HouseAdded Co-Sponsor Rep. John D. Cavaletto
  1/8/2013HouseSession Sine Die

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