The COVID-19 pandemic has damaged our economy and caused skyrocketing unemployment. Self-employed business owners, independent contractors, members of the gig economy, and employees in many industries have all been hit hard by the pandemic. This has put a tremendous burden on the small business community and those who have become unemployed.
The SBAC has worked with Senator Ram Villivalam in filing SB 3992 which will provide technology companies, manufacturers and medical facilities, with under 100 employees, a $5,000 tax credit when they train and hire an employee whose livelihood has been threatened by the COVID-19 pandemic. Businesses with between 100-500 employees will receive a $2,500 tax credit for such a hire. All other businesses are eligible for a $1,500 tax credit.
The Illinois General Assembly has gone back to Springfield for a special session this week and getting SB 3992 passed will require urgency.
Please click here to access our action call to contact your legislators and make your voice heard.