92nd General Assembly
Status of HB5894
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 Full Text  Bill Summary

   35 ILCS 5/213 new                                                           

        Amends the Illinois Income Tax Act.  Creates a credit against the      
   taxes imposed under the Act for employers that hire  and  continuously      
   employ  full-time  for  a period of at least one year a person who has      
   obtained a baccalaureate or post-baccalaureate degree from a public or      
   private college or university in Illinois within  2  years  after  the      
   employee's  degree  is  awarded.  Provides that the credit shall be an      
   amount equal to 10%  of  the  employee's  salary.  Provides  that  the      
   employer may claim the credit for 2 years for each employee that meets      
   the  requirements of this credit.  Provides that any excess credit may      
   be carried forward for one taxable year.  Provides that this credit is      
   available for taxable years ending on  or  after  December  31,  2002.      
   Exempts the credit from the sunset provisions.                              
   FEB-08-2002  H  FILED WITH CLERK                                               
   FEB-08-2002  H  FIRST READING                                                  
   FEB-08-2002  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary