IL HB0621

Extends the Illinois income tax credit for wages paid to qualified veterans to also include wages paid to spouses of qualified veterans, effective for tax years beginning January 1, 2022 through December 31, 2026.

Expands the definition of "qualified veteran" to include active duty members of the United States Armed Forces or Reserve Forces called to duty by presidential executive order, Congressional act, or gubernatorial order.

Maintains the credit amount at 10% of gross wages paid, with a maximum credit of $1,200 per year, for qualifying employment of at least 185 days during the taxable year.

Allows excess credits that exceed tax liability to be carried forward and applied to tax liability in the following 5 taxable years, with earlier credits applied first.

Clarifies that taxpayers cannot claim both the veteran wage credit under Section 217 and the disabled veteran credit under Section 217.1 for the same individual in the same tax year.