IL SB1720

Amends the Illinois Income Tax Act to create a tax credit for employers hiring employees who received TANF or SNAP benefits for at least 9 months during the 18-month period before hiring.

Provides a 25% credit on qualified first-year wages (maximum $6,000) for employees working 120-399 hours during the taxable year, and a 40% credit (maximum $6,000) for employees working at least 400 hours.

Defines "qualified employee" as someone employed for exactly 12 consecutive months at any point during the taxable year who previously received TANF or SNAP benefits.

Allows unused credits to be carried forward and applied to tax liability in the 5 following taxable years, with earlier credits applied first.

Effective for taxable years ending on or after December 31, 2013, and takes effect immediately upon becoming law.