Illinois SB 3953: LOCAL JOURNALISM ACT

What it does

The legislature's own summary of the bill, or its official long title.

Creates the Local Journalism Sustainability Act. Creates a credit against an employer's withholding tax liability if the employer is a local news organization. Provides that the amount of the credit is equal to 50% of the amount of wages paid by the employer to qualified journalists in the calendar year in which the credit certificate is issued, not to exceed $25,000 in credits per qualified journalist. Provides…

Read the full title (157 words)

Creates the Local Journalism Sustainability Act. Creates a credit against an employer's withholding tax liability if the employer is a local news organization. Provides that the amount of the credit is equal to 50% of the amount of wages paid by the employer to qualified journalists in the calendar year in which the credit certificate is issued, not to exceed $25,000 in credits per qualified journalist. Provides that an additional withholding tax credit of $5,000 shall be awarded for each qualified journalist who fills a new journalism position for the employer during the calendar year in which the credit certificate is issued. Provides that those credits are subject to certain limitations. Amends the Illinois Income Tax Act. Creates an income tax credit, subject to certain limitations, in an amount equal to the consideration paid during the taxable year by an eligible small business to local newspapers or local broadcast stations for advertising in this State. Effective immediately.

Every action

4 steps, oldest first, as the legislature records them.

May 14, 2024SenateFiled with Secretary by Sen. Steve Stadelman
May 14, 2024SenateFirst Reading
May 14, 2024CommitteeReferred to Assignments · Senate Assignments
Jan 7, 2025SenateSession Sine Die

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What it does

Every action

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