IL SB2141

Extends the Small Business Job Creation Tax Credit Act with a second set of incentive periods beginning July 1, 2019, allowing businesses with fewer than 50 full-time employees to claim tax credits for new hires.

Removes provisions specific to employees who participated in the Put Illinois to Work Program during 2010 from applying to the second incentive period (beginning 2019).

Maintains the $2,500 maximum tax credit per new employee hired, with credits claimed against Illinois Income Tax Act withholdings after a 12-month employment period.

Requires applicants to demonstrate a net increase in full-time Illinois employees sustained for at least 12 months to qualify for the credit.

Makes the credit exempt from Section 250 limitations of the Illinois Income Tax Act and takes effect immediately upon enactment.