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IL SB3535
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Chapin Rose
Click for details
AI Summary
- Creates an Illinois income tax credit for small employers (50 or fewer employees) equal to the amount paid to employees as required paid leave under the Paid Leave for All Workers Act
- Caps the credit at 40 hours of paid leave per employee per calendar year
- Allows unused credit amounts to be carried forward for up to 5 taxable years if the credit exceeds tax liability
- Applies to partnerships and S corporations under existing pass-through provisions
- Takes effect January 1, 2027
Legislative Description
INC TX- PAID TIME OFF
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/17/2026
Assignments2/5/2026
Full Bill Text
No bill text available