SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
New job training tax credit pushed

Tuesday, May 20, 2014

* Greg Hinz has some details of a new proposal to help spur hiring

The proposed Illinois State Employment and Training Program, or I-Step, would give a credit worth as much as $5,000 per job for training net new hires for Illinois operations, after factoring in any job cuts.The credit would apply not only against a company’s state income tax liability but against individual income taxes it withholds from employee paychecks — a much more lucrative deal for many companies. […]

(T)he tax credit would cover training costs in the first year of employment and amount to 75 to 100 percent of costs, the larger figure in the case of jobs that will be particularly long-lived.

The jobs must pay at least 175 percent of the federal minimum wage and be posted for at least two weeks on a state job board… The key change was an agreement that would allow a company to still reduce employment in one location, so long as it was adding jobs in another location at least 60 miles away from the first. […]

By itself, the program probably won’t be enough to lure a company to Illinois, [the IMA’s Mark Denzler] said. But it will be “beneficial” for existing employers considering expanding, particularly since the program will be “automatic” and not require special approval by state bureaucrats in each instance.

Discuss.

- Posted by Rich Miller        


6 Comments
  1. - VanillaMan - Tuesday, May 20, 14 @ 2:56 pm:

    Sorry, but I-Bankrupt.


  2. - Walker - Tuesday, May 20, 14 @ 3:14 pm:

    I thought this was in a bill passed and signed in 2010. Does it take this long for things to actually get to market?


  3. - Formerly Known As... - Tuesday, May 20, 14 @ 3:30 pm:

    Not sure about any sort of “corporate welfare” at the moment.

    Income tax revenue from a newly created job would seem to be needed in Illinois’ coffers right now, much more so than in those of a successful company that is expanding their business. But without this “handout”, that new job may not be created at all and we lose out on the associated tax revenue such as gas tax, sales tax and so on from that new employee.

    Ultimately, it seems highly unlikely a successful company would not expand simply because the state will not reimburse the company up to $5,000 for the costs of training their new employee. That new employee will likely make the company more than $5,000 in profit during their first year alone and for many years after.


  4. - Jeff Trigg - Tuesday, May 20, 14 @ 4:58 pm:

    No more corporate welfare please. This favors big business over small business, which makes it even worse. The Starbucks franchise will be much more likely to take advantage of this than the family-owned local coffee shop.


  5. - wordslinger - Tuesday, May 20, 14 @ 6:33 pm:

    –The credit would apply not only against a company’s state income tax liability but against individual income taxes it withholds from employee paychecks — a much more lucrative deal for many companies. […]–

    Ugh. I hate this scam. You take taxes from me and give it my boss?

    There are a lot of risk-takers out there in the Illinois business world, but they sure aren’t among the fat cats at the taxpayer trough.

    Sad, but true.


  6. - Judgment Day - Wednesday, May 21, 14 @ 8:43 am:

    Poorly designed. I’m sure this legislation works for somebody, but when you look at all the hoops an employer has to jump through, this ‘thing’ is virtually useless for any small employer. Better off spending time on the business, and ignoring the State of Illinois.

    I count at least six (6) regulatory ‘hoops’ for businesses to jump through to obtain eligibility. Even when we try and do something right, we screw it up.

    Oh well, at least we’re not France - yet.

    http://www.zerohedge.com/news/2014-05-20/socialist-efficiency-france-mistakenly-orders-2000-trains-which-are-too-wide-its-pla


Sorry, comments for this post are now closed.


* Gonna be a light day here
* No details except for a new hole
* Frerichs to Simon: No thanks
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Lightning-fast 4G connectivity: India, say hello to Nokia Lumia 638
        * Samsung to update Galaxy Note 4, Note Edge directly to Android 5.0.1
        * Baldurs Gate II Enhanced Edition makes its way to Android
        * Forensic software gets around Apple's iCloud security features
        * BLU Studio 7.0 may be more tablet than phone, but it sure is affordable
        * Bit Dungeon II: Game to save your soul from eternal damnation
        * What can we expect from second-gen Android One phones?

        * Punch-A-Monet Sans The Guilt
        * OnePlus Holds Contest For You To Name Custom ROM
        * Facebook Tests Out New Android App UI
        * Google Drive Updates Android And iOS Apps
        * BlackBerry 10.3.1 Being Prepped For February 2015 Release
        * Facebook Updates iPad App
        * Mind-Controlled Robotic Arm Tested

        * AL Central looking like one powerhouse division
        * Samardzija, Lester are right fits in Windy City
        * Samardzija, Lester are right fits in Windy City
        * White Sox offseason momentum transfers to fans
        * Samardzija, Lester are right fits in Windy City
        * White Sox unveil Samardzija, Robertson, Melky
        * White Sox sign Brad Penny to minor league deal

        ...............


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        December 2014
        November 2014
        October 2014
        September 2014
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Some Rauner Plans Still A Mystery..
        * BGA Cautiously Optimistic..
        * Springfield Community Leaders Hope Rauner Bring.....
        * Sneed: Rauner using out-of-state company for in.....
        * Judy Baar Topinka remembered as honest, tough a.....


        * APNewsBreak: Judge rejects NCAA concussions deal
        * Video game developer to open studio in New Orleans
        * U. of Illinois to sexual assault group starts work
        * Durbin: US, Cuba diplomatic ties 'long overdue'
        * Official: Convicted killer slain in Illinois prison
        * Topinka remembered as honest, tough at memorial
        * Senate approves NATO-trial prosecutor for US bench
        * New trial linked to disgraced judge gets underway
        * Illinois employers reminded of income-tax rollback
        * Chicago 'petcoke' handler says it'll enclose piles

        * Chicago couple convicted of stealing state grants
        * Topinka remembered as tough, honest leader at memorial service
        * Illinois employers reminded of income-tax rollback
        * Memorial service for Topinka begins in suburban Chicago
        * Police use vacant Jacksonville site to train for worst-case scenarios
        * State-grant fraud case in hands of federal jury
        * Gov.-elect Rauner says some agency directors may stay
        * Attorney blames couple's bookkeeper in state grant fraud case
        * Attorney general: Quinn, Rauner each should name comptrollers, then voters choose in 2016
        * Prosecutor: Chicago couple bought cars, paid son’s mortgage with grant money

        * Chicago couple convicted of stealing state grants
        * Durbin: US, Cuba diplomatic ties 'long overdue'
        * Chicago couple's $3.4 million fraud case now in jury's hands
        * Treasuries drop as Yellen says Fed is on pace to raise rates
        * Illinois employers: Don't forget income-tax rollback


        * Emanuel halts private parking on city lots near United Center
        * Durbin, Kirk split on Obama’s shift on Cuba policy
        * Unions may win  HOLLOW victory with pension suit
        * time for new course in Cuba
        * CPS move may have cost more than estimated
        * Unions may win Pyrrhic victory with pension suit
        * Chicago couple found guilty of stealing millions in state grants
        * Chicago Cubans cautious yet hopeful about historic policy shift
        * After 50 years, time for a new course in Cuba
        * Obama pardons Naperville man, Brian Sledz


        * 1 killed, 6 others wounded in shootings, including man, 18, hurt near park
        * Man found in South Side home was shot to death
        * Man arrested in 2 downtown bank robberies
        * 2 found dead in South Side home
        * Father of 3 shot to death on way home from work
        * Jury finds Chicago couple guilty in grant scam case with ties to Obama friend Whitaker
        * CPS school for special-needs kids needs full-time nurse, alderman says
        * Proposed NCAA concussion settlement denied by federal judge
        * Oak Park school district, teachers reach tentative deal
        * Chicago police captain returns to work 2 months after being shot


        * Illinois Republican: Cuba Agreement "Good First Step"
        * Obama: US re-establishing relations with Cuba
        * Obama re-establishing US relations with Cuba
        * Sangamon Auditorium: Beware Second Party Ticket Brokers
        * Real-estate developer in hot area sees bright future — and displacement
        * Worries rise in Russia as ruble falls
        * Rauner Named Nation's Most Influential Pension Figure
        * Recent incidents cast doubt on Hammond police accountability, critics say
        * Report details big problems at Illinois prison for women; state says it's safe
        * Chicago 'petcoke' handler says it'll enclose piles


        * Bernard Schoenburg: Schmidt considers challenging Sgro for park board president
        * Brian Sauder: Faithful decisions for the holidays
        * Eugene Robinson: The price of being hacked
        * George Will: A Texas-sized license plate dispute
        * Quote of the day: Thursday, Dec. 18, 2014
        * Chicago couple convicted of stealing state grants
        * Topinka remembered as tough, honest leader at memorial service
        * Illinois employers reminded of income-tax rollback
        * Quote of the day: Wednesday, Dec. 17, 2014
        * Police use vacant Jacksonville site to train for worst-case scenarios


        * Charles Lane
        * Jo-Ann Meyer
        * Freddie Madison
        * Michael Ball
        * Mae Lyerla
        * Bobby Langston
        * Kenneth Underwood
        * Terrance O'Sullivan
        * Dale Reidelberger
        * Robert Geggie


        * Larkin presses on, dumps Batavia
        * WW South coach Todd remembered as 'a great guy'
        * Addison Trail makes it 2 for 2 in tournament crowns
        * Girls bowling scoreboard: Wednesday's results
        * Girls gymnastics scoreboard: Wednesday's results

        * Area family receives Congressional Award
        * Frerichs: 'Treasurer for all' after slim win
        * Unclaimed ashes to be scattered on Puget S...
        * Mark Reardon: Illinois Congressman Rodney ...
        * Mike Bloomberg takes his money local
        * National Guard facility open at Heartland
        * Midterm elections see Big Red wins in Ill....
        * Obama: 'I've got to take responsibility" f...
        * The 113th Congress had positives for the S...
        * T’was a Famous Victory: Why? How? and What...

        * Durbin: Clean water law a tribute to Paul ......
        * Gross release: How it happened...
        * US, Cuba patch torn relations in historic ......
        * Durbin 'overjoyed' Gross is home; Roskam q......

        * Galesburg VA clinic renamed after Lane Evans...
        * Why is he so upset? Because of the secret ......
        * Senate Confirms Vivek Murthy As Surgeon Ge......

        * Baseball ‘kids’ don’t live in Chicago? Why did complaints take so long?
        * Business School?
        * For Our Fallen Vigil In Chicago
        * Demands For Reparations Increase For Those Tortured Under CPD's Jon Burge
        * Memorial For Chicago Police Torture Survivors
        * Chicagoans Hold Vigil For Victims Of Violence And Police Brutality
        * How does one get to become neighborhood of the year?
        * A Thought For The Day...
        * Chicago Group Wants Quinn To Veto Eavesdropping Measure
        * Chicago Mayoral, 24th Ward Candidates Court West Side Voters At Local Forum


        * Illinois Observes National Impaired Driving Prevention Month - December designated to educate communities about the numerous risks associated with driving under the influence of alcohol or drugs
        * The Illinois Office Of The State Fire Marshal Promotes Fire Safety During The Holiday Season - Christmas Trees and Decorations Could Pose Risks of Fires
        * Honoring Illinois Comptroller Judy Baar Topinka
        * Honoring Illinois Comptroller Judy Baar Topinka - United States and Illinois flags at half-staff immediately until Sunset, Thursday, December 11, 2014.
        * Governor Quinn Statement on the Passing of Comptroller Judy Baar Topinka




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller