IL HB3484

Creates an income tax credit of $500 for each taxpayer who employs a qualified student in a College and Career Pathways Endorsement program, effective for tax years beginning January 1, 2024.

Provides an additional credit of up to $1,000 per student if the student resides in an underserved area or the employer's principal place of business is located in an underserved area.

Defines a "qualified student" as an Illinois resident who is at least 16 years old, enrolled in an approved public or nonpublic secondary school with a manufacturing and technology College and Career Pathways Endorsement program.

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

Requires the Department of Revenue to adopt necessary rules for implementation and administration.