HB4360 Summary

• Creates a tax credit equal to 20% of gross wages paid to qualified youth in care, with a maximum credit of $5,000 per taxable year, effective for tax years ending on or after December 31, 2019.

• Defines "qualified youth in care" as an Illinois resident who currently meets the definition under Section 4d of the Children and Family Services Act, or previously met that definition and has not yet reached age 27.

• Requires "sustained employment" of either 185 days following hire date, or more than 30 days if the youth was unemployed for 6 months or more in the year before hiring.

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

• Requires that disclosure of youth in care status be entirely voluntary with no negative consequences for applicants or employees who refuse to disclose, and exempts the credit from automatic sunset provisions.