INC TX-HIRE ILLINOIS CREDIT Senate SponsorsSen. Paul Schimpf-Pamela J. Althoff and Scott M. Bennett 1/9/2019SenateSession Sine Die 35 ILCS 5/227 newAmends the Illinois Income Tax Act. Creates the Hire Illinois Tax Credit. Provides that a business is eligible for a $500 tax credit against its withholding tax liability for each recent graduate of a public university in the State who is hired by the taxpayer within the incentive period and retained by the taxpayer for 12 consecutive months. Provides that the $500 tax credit may be taken in both the year the qualified employee is hired and for each year of the next 4 years the qualified employee is retained by the taxpayer for 12 consecutive months. Provides 2 ways the taxpayer may take the $500 tax credit. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of these tax credits to $25,000,000. Provides for procedures for a business to apply for a certificate of eligibility for the credit and for procedures to apply for a tax credit certificate. Grants the Department of Commerce and Economic Opportunity the powers necessary or convenient to administer the tax credit. Effective immediately. 2/16/2018SenateFiled with Secretary by Sen. Paul Schimpf 2/16/2018SenateFirst Reading 2/16/2018SenateReferred to Assignments 2/27/2018SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff 2/27/2018SenateAssigned to Revenue 3/1/2018SenateAdded as Co-Sponsor Sen. Scott M. Bennett 4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018 4/27/2018SenateRule 2-10 Committee/3rd Reading Deadline Established As May 3, 2018 5/3/2018SenateRule 3-9(a) / Re-referred to Assignments 1/9/2019SenateSession Sine Die