INC TX-JOB CREATION CREDIT House SponsorsRep. Dwight Kay 12/3/2014HouseSession Sine Die 35 ILCS 5/224 new Amends the Illinois Income Tax Act. Provides that a taxpayer who owns and operates a business in Illinois shall be allowed a credit in the amount of $3,750 per employee hired by the taxpayer and retained for 2 years. Provides that the credit may be allowed in the amount of $2,500 in the year the employee is hired and in the amount of $1,250 in the second year of employment. Provides that if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess may be carried forward and applied to the tax liability of the next 5 years. Effective immediately. 1/29/2014HouseFiled with the Clerk by Rep. Dwight Kay 2/3/2014HouseFirst Reading 2/3/2014HouseReferred to Rules Committee 12/3/2014HouseSession Sine Die