HB2332 Summary

• Extends the Illinois income tax credit for wages paid to qualified veterans to also include wages paid to spouses of qualified veterans, effective for tax years beginning January 1, 2019 through December 31, 2023.

• Expands the definition of "qualified veteran" to include active duty members of the United States Armed Forces or Reserve Forces, including the Illinois National Guard called to active duty by presidential executive order, congressional act, or gubernatorial order.

• Maintains the 10% tax credit with a maximum of $1,200 per taxpayer for wages paid to qualifying veterans or their spouses during sustained employment (at least 185 days per taxable year).

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

• Takes effect immediately upon becoming law.