IL HB0344

Creates the Manufacturing Job Destination Tax Credit Act providing a 25% tax credit on qualifying Illinois labor expenditures for certified manufacturing companies beginning in tax year 2015.

Limits qualifying labor expenditures to $25,000 per employee per year, excludes the 2 highest-paid employees, and requires wages be paid for production-stage manufacturing services in Illinois within 60 days of year-end.

Requires manufacturers to obtain "accredited manufacturer" certification by demonstrating they provide health insurance, pension or 401(k) plans, elder care and dependent care benefits, and conduct research and development in Illinois.

Establishes a 60-day appeal process for denied certifications with a hearing option; taxpayers can appeal the Department's credit amount determination if they can show by preponderance of evidence they deserve a larger credit.

Credit applies against individual and corporate income taxes for partnerships and S-corporations according to distributive share; credit cannot be carried forward or back and cannot reduce tax liability below zero.