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IL HB4289
Bill
Status
Failed
12/3/2014
Primary Sponsor
Sue Scherer
Click for details
AI Summary
- Creates a tax credit for wages paid to apprentices in manufacturing, plastics, or construction trades for tax years beginning January 1, 2015.
- Credit equals the lesser of 50% of wages paid to each apprentice per year or $4,800 per apprentice, with annual certification required from the Department of Commerce and Economic Opportunity.
- Apprenticeship programs must be at least 4 years in duration to qualify.
- Unused credits may be carried forward for up to 5 taxable years and applied to future tax liability.
- Credit is exempt from automatic sunset provisions and takes effect immediately upon passage.
Legislative Description
INC TX-APPRENTICE CREDIT
Last Action
Session Sine Die
12/3/2014
Committee Referrals
Rules3/28/2014
Income Tax3/11/2014
Revenue & Finance3/3/2014
Rules1/24/2014
Full Bill Text
No bill text available