Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/224 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that each taxpayer is entitled to a credit for each employee of the taxpayer who was (i) laid off by the taxpayer during calendar year 2012, (ii) employed by the taxpayer for at least one year prior to being laid off, (iii) rehired by the taxpayer during calendar year 2013, and (iv) retained by the taxpayer for a period of at least one year after being rehired. Provides that, if the employee was rehired on or before May 31, 2013, the taxpayer is entitled to a credit in an amount equal to 66% of the total taxes imposed on the employer with respect to that employee under the Federal Insurance Contribution Act during the 12-month period commencing with the date of rehire. Provides that, if the employee was rehired on or after June 1, 2013, the taxpayer is entitled to a credit in an amount equal to 33% of the total taxes imposed on the employer with respect to that employee under the Federal Insurance Contribution Act during the 12-month period commencing with the date of rehire. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Actions 

Date	Chamber	Action
2/26/2013	House	Filed with the Clerk by Rep. Thaddeus Jones
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/11/2013	House	Assigned to Revenue & Finance Committee
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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