Illinois 95th Regular Session Status: In Committee 1 R cosponsors

HB 548 — INC TX-JOB CREATION CREDIT

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 95th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Income Tax Act. Creates an income tax credit through taxable years ending before December 31, 2013 to taxpayers who, during the taxable year, pay wages to one or more net new employees. Sets the amount of the credit at 50% of the amount of Illinois income taxes withheld by the taxpayer with respect to a net new employee, except that, for taxable years ending before December 31, 2011, the credit is 75% of the amount of Illinois income taxes withheld if the taxpayer provides health and retirement benefits to that employee. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Defines "net new employees" as the number of Illinois-based employees on the taxpayer's withholding rolls on the last day of the current taxable year less the number of Illinois-based employees on the taxpayer's withholding rolls on December 31, 2006. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 19(a) / Re-referred to Rules Committee

  3. Assigned to Revenue Committee

  4. Referred to Rules Committee

  5. First Reading

  6. Filed with the Clerk by Rep. Jil Tracy

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation labor
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Frequently asked questions

What does HB 548 do?
Amends the Illinois Income Tax Act. Creates an income tax credit through taxable years ending before December 31, 2013 to taxpayers who, during the taxable year, pay wages to one or more net new employees. Sets the amount of the credit at 50% of the amount of Illinois income taxes withheld by the taxpayer with respect to a net new employee, except that, for taxable years ending before December 31, 2011, the credit is 75% of the amount of Illinois income taxes withheld if the taxpayer provides health and retirement benefits to that employee. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Defines "net new employees" as the number of Illinois-based employees on the taxpayer's withholding rolls on the last day of the current taxable year less the number of Illinois-based employees on the taxpayer's withholding rolls on December 31, 2006. Effective immediately.
Who sponsors HB 548?
HB 548 is sponsored by Jil Tracy (Republican).
What is the current status of HB 548?
This bill died with 95th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 548?
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