IL HB2542

Increases the tax credit for wages paid to qualified ex-offenders from 5% to 10% for businesses located in census tracts with high rates of unemployment and violent crime, effective for taxable years beginning January 1, 2019.

Raises the maximum total credit allowed per qualified ex-offender from $1,500 to $3,000 for businesses in designated high-need census tracts.

Eliminates the 3-year hiring window requirement for ex-offenders for businesses located in census tracts with high unemployment and violent crime rates, as determined by the Department of Commerce and Economic Opportunity.

Maintains the existing 5% credit and $1,500 cap for all other businesses that hire qualified ex-offenders.

Takes effect immediately upon becoming law.