Illinois Legislation Gives Incentives to Hiring IL Workers

Under a compromise reached between the energy industry and the Illinois General Assembly, companies would get a break on severance, or “extraction,” taxes if more than half their workers are from Illinois and receive prevailing wages. Click HERE for article
Here’s the text of the entire bill:

 

http://www.ilga.gov/legislation/98/SB/PDF/09800SB1715ham001.pdf

Including this key section:

 

Section 2-17. Local Workforce Tax Rate Reduction.

(a) The rate of tax imposed on working interest owners of a

well under Section 2-15 of this Act shall be reduced by 0.25%

for the life of the well when a minimum of 50% of the total

workforce hours on the well site are performed by Illinois

construction workers being paid wages equal to or exceeding the

general prevailing rate of hourly wages.

 

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