Illinois State House District 55 issued the following announcement on Aug. 24
Advocating for local economic growth, state Rep. Marty Moylan, D-Des Plaines, sponsored legislation to help boost economic development in Illinois by investing in businesses that invest in local jobs and apprenticeships that lead to good-paying employment opportunities.
“It is important that we help grow local communities by securing economic opportunities here in Illinois,” said Moylan. “We need to create sustainable jobs with fair wages while expanding apprenticeship programs for Illinois residents.”
The Moylan-backed Senate Bill 1591 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 is in an area with high poverty or unemployment. Moylan’s initiative extends a tax credit for a wide range of research and development projects including software programs, manufacturing materials and an array of consumer products.
Senate Bill 1591 passed both the state House and Senate and was signed into law earlier this month.
“We are desperately facing a shortage of skilled workers,” said Moylan. “With this bill, we will support our efforts to build a stronger Illinois and provide hands-on education for a new generation of skilled workers while also generating good jobs now to quickly rebuild local economies.”
Original source can be found here.
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