Illinois HB1799 provides a tax credit for employers who hire and pay wages to individuals aged 62 and older.
HB1799 amends the Illinois Income Tax Act to introduce a tax credit for employers. Employers can claim a credit of $2,500 for each employee aged 62 or older who works at least 185 days in the state. The credit can be carried forward to offset tax liabilities in subsequent years. This credit is exempt from the Act's automatic sunset provision and applies to taxable years beginning on or after January 1, 2026.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.