IL HB3613

Creates a 10% income tax credit for employers who hire qualified interns, calculated on the salary or stipend paid during the taxable year, for taxable years beginning January 1, 2019 or later.

Extends the credit for an additional 2 years if the qualified intern is hired full-time by the same employer upon graduation.

Defines "qualified intern" as an Illinois resident who is a full-time student at an Illinois institution of higher education and whose employment provides professional or practical experience.

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

For pass-through entities (partnerships, LLCs, S-corporations), credits are distributed to partners, unit holders, or shareholders according to their distributive share of income under federal tax code.