Illinois SB1834 establishes a Job Creation Zone Pilot Program to provide tax credits for employers hiring new employees in designated zones.
Illinois SB1834 creates a Job Creation Zone Pilot Program to incentivize job creation by offering tax credits to employers. Eligible employers must pledge to hire at least five new employees in specified zones. The credits are based on incremental income tax attributable to new employees, with different percentages for the first two years and the third and fourth years. Employers can carry forward unused credits for up to five years.
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