IL HB1503

Establishes a Veterans' Economic Center pilot program from January 1, 2026 through December 31, 2029 to assist veterans in finding employment and address veteran homelessness, with the Department of Commerce and Economic Opportunity partnering with local employers

Requires taxpayers receiving EDGE (Economic Development for a Growing Economy) tax credits for taxable years ending on or before December 31, 2027 under new agreements to apply only 98% of the credit against their state income tax liability

Transfers the remaining 2% of EDGE tax credits awarded under new agreements from the General Revenue Fund into a newly created Veterans' Economic Center Fund

Mandates the Department certify the 2% credit amount to the Comptroller by July 1 each year from 2025 through 2028, with funds used exclusively to administer the veterans pilot program

Requires a report to the Governor and General Assembly on program effectiveness by December 31, 2029, with the program section repealing on January 1, 2031