SB1505

SB1505 amends the Small Business Job Creation Tax Credit Act to renew the tax credit program for businesses with fewer than 50 full-time employees.

SB1505 amends the Small Business Job Creation Tax Credit Act to renew the tax credit program for businesses with fewer than 50 full-time employees. The bill extends the program for incentive periods beginning on or after July 1, 2025, and ending on or before June 30, 2032. It removes language concerning the Put Illinois to Work Program for the second series of incentive periods. The bill defines "full-time employee" as an individual employed for at least 35 hours each week or who renders any other standard of service generally accepted by industry custom or practice as full-time employment.