IL HB2859

Extends the Illinois income tax credit for wages paid to qualified veterans to also cover wages paid to spouses of qualified veterans, effective for tax years beginning January 1, 2024 through December 31, 2028.

Credits remain at 10% of gross wages with a maximum of $1,200 per qualified veteran or spouse during sustained employment (at least 185 days annually).

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

Allows excess credits to carry forward and offset tax liability for up to 5 subsequent taxable years, with earlier credits applied first.

Prohibits taxpayers from claiming credits under both Section 217 (this section) and Section 217.1 for the same veteran in the same tax year.