IL HB3678

Creates an income tax credit for individual taxpayers participating in an apprenticeship program during the taxable year, effective for tax years beginning January 1, 2024.

Credit equals unreimbursed expenses incurred to purchase equipment necessary for apprenticeship participation, capped at $1,000 per taxpayer per year.

Credit applies against Illinois income tax liability under subsections (a) and (b) of Section 201 of the Illinois Income Tax Act.

Excess credit amounts that exceed a taxpayer's annual tax liability may be refunded to the taxpayer.

This credit is exempt from the provisions of Section 250 and takes effect immediately upon enactment.