IllinoisHB3068104th General Assembly (2025–2026)HouseWALLET

SMALL BUSINESS-INCENTIVES

Sponsored By: Curtis J. Tarver, II (Democratic)

In Committee

Summary

Amends the Small Business Job Creation Tax Credit Act. Amends the Small Business Job Creation Tax Credit Act. Creates a second set of incentive periods beginning on July 1, 2025 and ending on June 30, 2031. Provides that the basic wage for the second set of incentive periods is $20 per hour. Provides that the credit may not exceed $2,500 per new employee hired, except that, if the new employee is a returning citizen, then the credit for that employee may not exceed $3,500. Provides that the term "returning citizen" means an individual who (i) is a resident of Illinois, (ii) was formerly incarcerated in a federal, State, or local correctional institution, and (iii) is a new employee. Provides that the aggregate amount of credits that may be awarded under the Act is (i) $20,000,000 for new employees other than returning citizens and (ii) $5,000,000 for returning citizens. Adds provisions concerning recapture of the credit if the employee is terminated by the taxpayer within one year after the credit is awarded. Effective immediately.

revenue & finance

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Curtis J. Tarver, II

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 17 • No: 7

House vote • 3/20/2025

Recommends Do Pass Subcommittee/ Revenue & Finance Committee;

Yes: 4 • No: 0

House vote • 3/20/2025

Do Pass as Amended / Short Debate Revenue & Finance Committee;

Yes: 13 • No: 7

Bill Text

  • House Amendment 1

  • Introduced

Related Bills

Back to State Legislation