Illinois HB 3068: SMALL BUSINESS-INCENTIVES

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB3068

Introduced 2/6/2025, by Rep. Curtis J. Tarver, II 

SYNOPSIS AS INTRODUCED:

35 ILCS 25/10

35 ILCS 25/25

35 ILCS 25/30

35 ILCS 25/35

35 ILCS 25/45

 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.

LRB104 08419 HLH 19515 b

A BILL FOR

HB3068LRB104 08419 HLH 19515 b

1 AN ACT concerning revenue.

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

3represented in the General Assembly:

4 Section 5. The Small Business Job Creation Tax Credit Act 

5is amended by changing Sections 10, 25, 30, 35, and 45 as 

6follows:

7 (35 ILCS 25/10)

8 Sec. 10. Definitions. In this Act:

9 "Applicant" means a person that is operating a business 

1