Sente Sponsored Job Creation Tax Credit Expansion
Vernon Hills, IL – State Rep. Carol Sente (D-Vernon Hills) co-sponsored economic recovery legislation signed into law by the Governor Tuesday to provide tax credits to more employers who create new jobs during the recession. This legislation will help stimulate small businesses to develop jobs, and aid in Illinois' economic recovery.
“This recession has forced many companies to reduce cost, unfortunately, by laying-off workers to balance their losses,” Sente said. “This tax credit will help companies, particularly small independently owned businesses, hire and retain a strong workforce.”
House Bill 4599 will expand tax credit incentives for small businesses who create jobs or retain worker-trainees hired under the Put Illinois to Work Program as full time employees. Since job creation tax credits were put in place last summer, Illinois' small businesses have created hundreds of new jobs, putting more Illinoisans to work. This expansion will allow more new hires to qualify for the tax credit by reducing the required hourly wage from $13.75 to $10.00 per hour, and requiring the new hire remain employed for at least six months instead of a full year.
“It it is important that we support those small businesses and employers that make a commitment to invest in our state,” said Sente. “Bussiness owners in my district have told me that it needs to be easier to take the risk of hiring new employees during the recession and this bill will serve as a relief to them and stimulate hiring and development.”
Sente represents the 59th District, which includes portions of 22 communities in Central Lake and Northern Cook Counties, including Buffalo Grove, Great Lakes, Green Oaks, Gurnee, Indian Creek, Knollwood, Lake Bluff, Lake Forest, Libertyville, Lincolnshire, Long Grove, Mettawa, Mundelein, North Chicago, Northbrook, Park City, Prairie View, Riverwoods, Unincorporated Deerfield, Vernon Hills, Waukegan and Wheeling. For more information, please contact Sente at her full-time constituent service office at (847) 478-9909.
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