Illinois General Assembly - Bill Status for HB2425

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who employ qualified employees. Provides that the term "qualified employee" means an individual who (i) is employed by the taxpayer as an engineer and (ii) graduated from an engineering program at an accredited institution of higher learning with a Bachelor's degree or higher within the 5 years immediately preceding the taxable year. Provides that the credit shall be equal to (i) 10% of the compensation paid by the taxpayer during the taxable year to qualified employees who graduated from an engineering program at an accredited institution of higher learning in Illinois or (ii) 5% of the compensation paid by the taxpayer during the taxable year to qualified employees who graduated from an engineering program an accredited institution of higher learning not located in Illinois. Effective immediately.

Actions

Date	Chamber	Action
2/14/2023	House	Filed with the Clerk by Rep. Martin J. Moylan
2/15/2023	House	First Reading
2/15/2023	House	Referred to Rules Committee
2/24/2023	House	Added Chief Co-Sponsor Rep. Nabeela Syed
2/28/2023	House	Assigned to Revenue & Finance Committee
3/9/2023	House	To Revenue-Income Tax Subcommittee
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee

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