IL HB1115

Amends the Unemployment Insurance Act to exclude primary Social Security old age and disability retirement benefits from "disqualifying income" that reduces unemployment benefits.

Removes language that previously treated Social Security benefits (including those based on self-employment) as partially disqualifying income subject to the one-half reduction formula.

Creates new paragraph 2.1 stating that because individuals contributed to Social Security, none of the amount received in primary Social Security old age and disability retirement benefits shall constitute disqualifying income.

Maintains existing provisions for other retirement payments and pensions, which continue to be treated as disqualifying income under the standard rules.

Preserves federal tax credit requirements by allowing the Director to take necessary action to ensure compliance with Federal Unemployment Tax Act provisions.