IL SB2501

Creates an income tax credit for employers of qualifying apprentices for qualified education expenses beginning with tax years ending on or after December 31, 2018.

Credit equals 100% of qualified education expenses (tuition, book fees, and lab fees), with a maximum of $3,500 per employer per tax year.

Qualifying apprentices must be Illinois residents aged 16-30, enrolled full-time in a U.S. Department of Labor-registered apprenticeship program during the school year.

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

Credit cannot reduce a taxpayer's total tax liability below zero and is exempt from the provisions of Section 250 of the Illinois Income Tax Act.