Illinois General Assembly - Bill Status for HB2425
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 Bill Status of HB2425  103rd General Assembly


Short Description:  INC TX-ENGINEERING STUDENTS

House Sponsors
Rep. Martin J. Moylan - Nabeela Syed

Last Action
DateChamber Action
  3/10/2023HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/234 new


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 
DateChamber Action
  2/14/2023HouseFiled with the Clerk by Rep. Martin J. Moylan
  2/15/2023HouseFirst Reading
  2/15/2023HouseReferred to Rules Committee
  2/24/2023HouseAdded Chief Co-Sponsor Rep. Nabeela Syed
  2/28/2023HouseAssigned to Revenue & Finance Committee
  3/9/2023HouseTo Revenue-Income Tax Subcommittee
  3/10/2023HouseRule 19(a) / Re-referred to Rules Committee

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