Illinois HB3068 amends the Small Business Job Creation Tax Credit Act to create a second set of incentive periods for tax credits aimed at job.
HB3068 amends the Small Business Job Creation Tax Credit Act to establish a second series of incentive periods from July 1, 2025, to June 30, 2031. The bill defines "new employee" as a full-time worker hired by a business with fewer than 50 full-time employees in Illinois, whose hire results in a net increase in the business's full-time Illinois employees and who is receiving a basic wage. The basic wage for the second set of incentive periods is set at $20 per hour.
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