IL SB1563

Prohibits tax credits under Article 2 of the Illinois Income Tax Act for publicly traded companies with a chief executive officer to median employee pay ratio exceeding 200:1.

Prohibits tax credits under the Economic Development for a Growing Economy Tax Credit Act for publicly traded companies with a chief executive officer to median employee pay ratio exceeding 200:1.

Applies pay ratio restriction based on disclosures filed with the Securities and Exchange Commission during the taxable year under the Dodd-Frank Wall Street Reform and Consumer Protection Act pay ratio disclosure requirement.

Becomes effective upon enactment of this amendment in the 100th General Assembly.