IL HB0675

Creates a "Jobs Development Incentive Tax Credit" equal to 20% of gross wages paid to each creditable employee, capped at $2,000 per employee per year.

Defines "creditable employee" as someone who: (1) was first employed after the bill's effective date; (2) completed 24 consecutive months of employment during the taxable year; (3) received Illinois unemployment benefits for at least 2 months immediately before hire; and (4) worked at least 30 hours per week in Illinois during the entire 24-month employment period.

Allows partnerships, S-corporations, and limited liability companies to claim the credit through their partners, shareholders, or members based on their distributive share of income.

Permits unused credits to be carried forward and applied against tax liability for up to 5 following years, applied to the earliest year with available liability.

Takes effect immediately upon becoming law.