Illinois HB 1503: DCEO-VETERANS PILOT PROGRAM

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB1503

Introduced 1/28/2025, by Rep. Camille Y. Lilly 

SYNOPSIS AS INTRODUCED:

20 ILCS 605/605-1056 new

30 ILCS 105/5.1030 new

35 ILCS 5/211

35 ILCS 10/5-45

 Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department shall establish and implement a Veterans' Economic Center pilot program for the purposes of assisting veterans in finding employment and addressing the problem of veteran homelessness. Amends the Illinois Income Tax Act and the Economic Development for a Growing Economy Tax Credit Act. Provides that a taxpayer who receives a credit under the Act for a taxable year ending on or before December 31, 2027 pursuant an Agreement entered into on or after the effective date of the amendatory Act may apply only 98% of that credit amount against his or her State income tax liability in any taxable year. Provides that the remaining 2% of the total credit amount awarded shall be transferred from the General Revenue Fund into the Veterans' Economic Center Fund. Provides that moneys in the Veterans' Economic Center Fund shall be used by the Department of Commerce and Economic Opportunity to administer the Veterans' Economic Center pilot program. Amends the State Finance Act to create the Veterans' Economic Center Fund. Effective immediately.

LRB104 09248 HLH 19306 b

A BILL FOR

HB1503LRB104 09248 HLH 19306 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Department of Commerce and Economic 

5Opportunity Law of the Civil Administrative Code of Illinois 

6is amended by adding Section 60