HB2735 Summary: Small Business Job Creation Tax Credit Act

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

• Redefines "full-time employee" to mean an individual employed for at least 35 hours per week, removing language allowing alternative industry standards for full-time work.

• Changes the requirement for replacing vacant positions from "reasonable time" to a specific deadline of 8 weeks after the position becomes vacant to maintain eligibility for tax credits.

• Removes references to the Put Illinois to Work Program from provisions governing the second series of incentive periods (2018-2025), limiting that program's applicability to earlier incentive periods only.

• Takes effect immediately upon becoming law.