Sunday, August 22, 2010

New Illinois Laws

Employee Credit Privacy Act -- Effective January 1, 2011. Prohibits Illinois employers from discriminating based on a job seeker or employee's credit history. The new law will remove a significant barrier to employment for the growing segment of the population whose credit history has been affected by the recession. The law forbids employers from inquiring about an applicant or employee's credit history or obtaining a copy of their credit report. The law does not affect an employer's ability to conduct a thorough background investigation that does not contain a credit history or report. Employers who violate the new law can be subject to civil liability for damages or injunctive relief.

Illinois Small Business Tax Credit -- Small businesses that create new jobs between July 1, 2010 and June 30, 2011 may be able to take advantage of a $2,500 tax credit for new hires. The Illinois Small Business Job Creation Tax Credit, signed into law earlier this year, targets the foundation of Illinois' economy - the 500,000 small businesses across the state.

Debt Settlement Consumer Protection Act -- Effective immediately. Establishes stringent guidelines and enhances consumer protections for Illinois families seeking help to pay overdue bills.

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