Illinois HB1819 amends the Small Business Job Creation Tax Credit Act to renew the tax credit program for businesses with fewer than 50 full-time.
HB1819 amends the Small Business Job Creation Tax Credit Act to renew the program for businesses with fewer than 50 full-time employees. The bill extends the tax credit for hiring new employees who are retained for at least 12 months. Eligible businesses can claim a credit of up to $2,500 per new employee. The credit is awarded based on the net increase in full-time Illinois employees. The bill also removes language concerning the Put Illinois to Work Program for the second series of incentive periods. The tax credit is intended to incentivize job creation in small businesses.
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