Loading chat...

IL HB2386

Bill

Official Source

Status

Introduced

2/17/2021

Primary Sponsor

Dave Vella

Click for details

Origin

House of Representatives

102nd General Assembly

AI Summary

  • Amends the Illinois Income Tax Act to create a new tax credit for business taxpayers beginning in tax year 2022
  • Allows taxpayers to claim a credit equal to 100% of costs paid for employee screenings, treatments, and recommendations related to physical, mental, and emotional wellness
  • Excess credits that exceed tax liability in a given year may be carried forward and applied to tax liability in the following 5 taxable years, with earlier credits applied first
  • Credit applies to partners, S-corporation shareholders, and LLC owners treated as partnerships, determined according to their distributive share of income
  • Takes effect immediately upon becoming law

Legislative Description

INC TX-EMPLOYEE WELLNESS

Last Action

Rule 19(a) / Re-referred to Rules Committee

2/18/2022

Committee Referrals

Rules2/18/2022
Income Tax2/15/2022
Revenue & Finance2/9/2022
Rules3/27/2021
Income Tax3/18/2021
Revenue & Finance3/9/2021
Rules2/17/2021

Full Bill Text

No bill text available