The Illinois General Assembly passed, and Governor Pritzker signed into law, a program that will support small businesses, foster opportunities for formerly incarcerated individuals, improve public safety, and significantly reduce the costs of recidivism. This is big news for small and local businesses!
The General Assembly allocated $1,000,000.00 to this program so small businesses interested in supplementing their workforce should start looking into this now!
---
New Legislation Expands Tax Credits for Illinois Businesses
A new law in Illinois increases the tax credit for businesses hiring formerly incarcerated individuals from 5% to 15% of qualified wages, raising the cap from $1,500 to $7,500. These incentives aim to help businesses provide job training and support while reintegrating these individuals into the workforce.
This program will bolster the Illinois economy, reduce recidivism by 62% through stable employment, and enhance public safety. With $1,000,000 allocated to this initiative, businesses should explore this opportunity to strengthen their teams and make a lasting impact. Spread the word and learn more here!
