Illinois House Bill 4485

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 17 2024 - 25% progression
Action: 2024-01-17 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Small Business Job Creation Tax Credit Act. Renews the program for incentive periods beginning on or after July 1, 2018 and ending on or before June 30, 2025. 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.

SMALL BUSINESS TAX CREDIT

Rep. Curtis Tarver [D]

Date	Chamber	Action
2024-01-17	House	Referred to Rules Committee
2024-01-17	House	First Reading
2024-01-17	House	Filed with the Clerk by Rep. Curtis J. Tarver, II

Chapter	Article	Section	Citation Type	Statute Text
35	25	10	Amended Code	Citation Text
35	25	25	Amended Code	Citation Text
35	25	35	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4485&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4485.htm