SB1764 Summary

• Creates an income tax credit for Illinois employers who pay qualified education expenses for apprentices, effective for tax years ending on or after December 31, 2017.

• Credit equals 100% of qualified education expenses (tuition, books, and lab fees) but is capped at $3,500 per employer per taxable year.

• Qualifying apprentices must be Illinois residents aged 16-30, enrolled full-time in apprenticeship programs registered with the U.S. Department of Labor Office of Apprenticeship.

• Eligible expenses are limited to those incurred at public or nonpublic secondary schools or Illinois community colleges that comply with Title VI of the Civil Rights Act of 1964.

• Credit cannot reduce a taxpayer's total Illinois income tax liability below zero.