IL SB1883

Creates an income tax credit for Illinois businesses that increase their average full-time employee head count in the State by more than 20% compared to the immediately preceding taxable year.

Credit amount equals 20% of the business's tax liability under the Illinois Income Tax Act (excluding withholding tax liability) for the taxable year.

Applies to taxable years ending on or after December 31, 2019.

Defines full-time employees as those employed at least 35 hours per week or meeting industry standards for full-time employment.

Credit is exempt from the automatic sunset provision in Section 250 of the Illinois Income Tax Act and takes effect immediately upon becoming law.