summary
Introduced
02/06/2026
02/06/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Provides that a withholding credit based on the minimum wage applies on a permanent basis (currently, the credit sunsets on December 31, 2026 for employers with 50 or fewer employees but more than 5 employees, and the credit sunsets on December 31, 2027 for employers with no more than 5 employees). Effective immediately.
AI Summary
This bill makes permanent a tax credit for employers that helps offset the cost of withholding income tax for employees. Specifically, it removes the sunset dates for this withholding credit, meaning it will no longer expire at the end of 2026 or 2027. This credit is designed to assist businesses, particularly smaller ones, in managing their tax obligations related to employee wages, and by making it permanent, the state aims to provide ongoing support to employers.
Sponsors (1)
Last Action
Referred to Assignments (on 02/06/2026)
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