Synopsis As Introduced Amends the Minimum Wage Law. Increases the minimum wage from $8.25 to $9.00 beginning July 1, 2015 and increases it to $10.00 per hour on and after July 1, 2016. Provides that the establishment of a minimum wage that employers must pay their employees is an exclusive power and function of the State and is a denial and limitation of the home rule powers and functions, except that the limitation on home rule powers does not apply to a municipality with more than 1,000,000 inhabitants. Amends the Illinois Income Tax Act. Creates a credit against the withholding tax liability of employers with fewer than 50 employees in an amount equal to the increased wages paid as a result of the increase in the minimum wage.
Fiscal Note (Dept. of Labor)
This legislation is unlikely to result in the expenditure of additional funds or any increase in revenue due to penalties.
State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity)