IL HB0390

Creates a tax credit equal to 10% of stipend or salary paid to up to 5 qualified college interns or up to 5 qualified high school interns during the taxable year.

Limits total credits to a maximum of $5,000 per taxpayer across all taxable years combined.

Defines "qualified college intern" as an enrolled student at an Illinois higher education institution or vocational program whose internship is for academic credit, closely related to their field of study, supervised by the taxpayer, and located in Illinois.

Defines "qualified high school intern" as an enrolled Illinois high school student whose internship is for academic credit, supervised and evaluated by the taxpayer, and located in Illinois.

Credit cannot reduce tax liability below zero and excess credits cannot be carried forward, carried back, or refunded; exempts the credit from automatic sunset provisions and takes effect immediately.