SB3153 Summary

• Renews the Small Business Job Creation Tax Credit Act program for incentive periods beginning July 1, 2018 through June 30, 2025.

• Redefines "full-time employee" to require at least 35 hours per week employment, removing the alternative standard of industry custom or practice.

• Changes replacement employee rules from "reasonable time" to a specific 8-week window after a position becomes vacant for the net increase in employees to be treated as continuous.

• Removes Put Illinois to Work Program requirements for the second series of incentive periods (2018-2025), limiting that program reference to periods ending on or before June 30, 2016.

• Takes effect immediately upon becoming law.