IL SB0001

Increases Illinois minimum wage incrementally from $8.25/hour to $15/hour by January 1, 2025, with intermediate steps: $9.25 (Jan 2020), $10 (July 2020), $11 (2021), $12 (2022), $13 (2023), and $14 (2024)

Establishes reduced minimum wage rates for workers under 18 who have not worked more than 650 hours for an employer in a calendar year, ranging from $8/hour in 2020 to $13/hour by 2025

Creates a tax credit for small employers (50 or fewer full-time equivalent employees) against income tax withholding payments to offset minimum wage increases, with credit percentages declining from 25% in 2020 to 5% in 2025

Increases penalties for wage violations: employees can recover treble (triple) underpayments instead of single recovery, and monthly damages increase from 2% to 5% of unpaid amounts; employers face $1,500 penalty per violation payable to Wage Theft Enforcement Fund

Authorizes the Department of Labor to conduct random audits of employers for compliance and adopt emergency rules to implement the minimum wage changes