Bill > HB1819

This bill amends the Small Business Job Creation Tax Credit Act to renew and modify the small business tax credit program for incentive periods from July 1, 2018, to June 30, 2025. The bill makes several key changes to the existing law, including modifying the definition of a "full-time employee" to specifically mean an individual employed for at least 35 hours each week, removing previous language about alternative industry standards for full-time employment. The bill also changes the rules for maintaining a net increase in full-time employees, now specifying that if a position becomes vacant, a replacement employee must be hired within 8 weeks (previously described as a "reasonable time") to maintain the continuous net employee increase. Additionally, the bill removes references to the Put Illinois to Work Program for incentive periods after June 30, 2016, and adjusts the definition of a "new employee" to clarify the conditions under which an employee qualifies for the tax credit. The tax credit remains up to $2,500 per new employee hired, and is claimed against taxes withheld under the Illinois Income Tax Act, with the goal of encouraging job creation among small businesses in Illinois.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1819&GAID=18&DocTypeID=HB&SessionID=114&GA=104