Illinois General Assembly - Bill Status for SB1505

Synopsis As Introduced
Amends the Small Business Job Creation Tax Credit Act. Renews the program for incentive periods beginning on or after July 1, 2025 and ending on or before June 30, 2032. Removes language concerning the Put Illinois to Work Program for the second series of incentive periods. Provides that the term "full-time employee" means an individual who is employed for a basic wage for at least 35 hours each week (currently, employed for a basic wage for at least 35 hours each week or renders any other standard of service generally accepted by industry custom or practice as full-time employment). Provides that a net increase in the number of full-time Illinois employees shall be treated as continuous if a different new employee is hired as a replacement within 8 weeks after the position becomes vacant (currently, a reasonable time). Effective immediately.

Actions

Date	Chamber	Action
2/4/2025	Senate	Filed with Secretary by Sen. Willie Preston
2/4/2025	Senate	First Reading
2/4/2025	Senate	Referred to Assignments
2/11/2025	Senate	Assigned to Revenue
2/14/2025	Senate	Added as Co-Sponsor Sen. Adriane Johnson
2/21/2025	Senate	Added as Co-Sponsor Sen. Mattie Hunter
2/24/2025	Senate	Added as Co-Sponsor Sen. Laura Fine
3/5/2025	Senate	Added as Co-Sponsor Sen. Bill Cunningham
3/20/2025	Senate	Added as Co-Sponsor Sen. Laura M. Murphy

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