Bill > HB3017

This bill amends the Illinois Income Tax Act to create a tax credit for employers who hire military spouses, offering a $5,000 credit for each eligible military spouse hired during the taxable year starting from December 31, 2026. The credit applies to employers' state income tax liability and can be applied to their tax returns, with any excess credit allowed to be carried forward and applied to tax liabilities in the next five years. The bill defines a "military spouse" as the spouse of an active duty member of the U.S. Armed Forces, Illinois National Guard, or any reserve component of the Armed Forces. The credit is available for partners, shareholders of S corporations, and limited liability company owners, with the credit allocation determined according to federal income tax guidelines. Importantly, the credit cannot reduce a taxpayer's liability below zero, and if multiple credits are available, the earliest credit will be applied first. The bill aims to provide financial incentives for employers to hire and support military spouses, potentially helping these individuals find employment and supporting military families.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3017&GAID=18&DocTypeID=HB&SessionID=114&GA=104