SPRINGFIELD, Ill. – A bipartisan measure sponsored by state Rep. Mary Edly-Allen, D-Libertyville, and widely supported by the Illinois business community to make the state a more competitive place to grow and run a successful business was recently signed into law.
“Building a stronger Illinois begins with building a stronger middle class, but that is only possible if we focus on creating a broad range of economic opportunities,” said Edly-Allen. “By expanding existing tax credits and creating new ones we are helping to ensure Illinois is remaining competitive and retaining the job creators our communities depend on.”
Edly-Allen sponsored Senate Bill 1591, now Public Act 101-0207, which extends an existing tax credit for a wide-range of research and development projects, including software programs, manufacturing materials and an array of consumer products. The measure also creates a new tax credit for taxpayers who employ apprentices in their businesses. There is a $3,500 limit on the credit that is raised to $5,000 in situations where the business or apprentice are located in areas with high poverty or unemployment.
“Illinois is facing a shortage of skilled workers and that situation is exponentially made worse when employers and employees entering the workforce find their best opportunities outside the state,” Edly-Allen said. “This law is a critical step forward as we work to attract and retain businesses; create good-paying jobs; and build a stronger Illinois that works for the middle class.”
Visit Rep. Mary Edly-Allen’s website
235-E Stratton Office Building
Springfield, IL 62706
1585 N. Milwaukee Ave.
Libertyville, IL 60048