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2nd Chance For All - Illinois Tax Credit

October 16, 2024 2:00 PM - 3:30 PM (CDT)

Description


Location

Zoom

Virtual Presentation
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Contact Information

Name: Patti Zikmund
Email: patti@sbacil.org


An informational webinar on the Illinois Tax Credit Increase offered to businesses hiring Formerly Incarcerated Individuals. 

What is this?

The new Illinois law increases the tax credit for businesses that hire formerly incarcerated individuals from 5% to 15% of qualified wages. It also raises the ceiling for these incentives from $1,500 to $7,500. This funding helps transition formerly incarcerated individuals into the workforce and supports on-the-job training.

Why It's Important?

This legislation benefits the Illinois economy by reducing reincarceration costs and generating long-term tax revenue from formerly incarcerated individuals. It supports small businesses and enhances public safety, as employment lowers recidivism risk by 62%, aiding community reintegration and fostering safer communities.

How You Can Help?

Help spread the word! The General Assembly has allocated $1,000,000 to support small businesses looking to enhance their workforce. Encourage businesses to explore this opportunity today. Follow us on social media to stay updated and show your support!

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