Illinois 2023-2024 Regular Session

Illinois House Bill HB1147 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	HB1147 EngrossedLRB103 04802 SPS 49812 b HB1147 Engrossed LRB103 04802 SPS 49812 b
2		-	HB1147 Engrossed LRB103 04802 SPS 49812 b
	1	+	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1147 Introduced , by Rep. Charles Meier SYNOPSIS AS INTRODUCED: 820 ILCS 80/5 Amends the Illinois Secure Choice Savings Program Act. Provides that the definition of "employer" does not include a volunteer fire department. Effective immediately. LRB103 04802 SPS 49812 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1147 Introduced , by Rep. Charles Meier SYNOPSIS AS INTRODUCED: 820 ILCS 80/5 820 ILCS 80/5 Amends the Illinois Secure Choice Savings Program Act. Provides that the definition of "employer" does not include a volunteer fire department. Effective immediately. LRB103 04802 SPS 49812 b LRB103 04802 SPS 49812 b A BILL FOR
	2	+	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1147 Introduced , by Rep. Charles Meier SYNOPSIS AS INTRODUCED:
	3	+	820 ILCS 80/5 820 ILCS 80/5
	4	+	820 ILCS 80/5
	5	+	Amends the Illinois Secure Choice Savings Program Act. Provides that the definition of "employer" does not include a volunteer fire department. Effective immediately.
	6	+	LRB103 04802 SPS 49812 b LRB103 04802 SPS 49812 b
	7	+	LRB103 04802 SPS 49812 b
	8	+	A BILL FOR
	9	+	HB1147LRB103 04802 SPS 49812 b HB1147 LRB103 04802 SPS 49812 b
	10	+	HB1147 LRB103 04802 SPS 49812 b
3	11		1 AN ACT concerning employment.
4	12		2 Be it enacted by the People of the State of Illinois,
5	13		3 represented in the General Assembly:
6	14		4 Section 5. The Illinois Secure Choice Savings Program Act
7	15		5 is amended by changing Section 5 as follows:
8	16		6 (820 ILCS 80/5)
9	17		7 Sec. 5. Definitions. Unless the context requires a
10	18		8 different meaning or as expressly provided in this Section,
11	19		9 all terms shall have the same meaning as when used in a
12	20		10 comparable context in the Internal Revenue Code. As used in
13	21		11 this Act:
14	22		12 "Board" means the Illinois Secure Choice Savings Board
15	23		13 established under this Act.
16	24		14 "Department" means the Department of Revenue.
17	25		15 "Director" means the Director of Revenue.
18	26		16 "Employee" means any individual who is employed by an
19	27		17 employer, and who has wages that are allocable to Illinois
20	28		18 during a calendar year under the provisions of Section
21	29		19 304(a)(2)(B) of the Illinois Income Tax Act.
22	30		20 "Employer" means a person or entity engaged in a business,
23	31		21 industry, profession, trade, or other enterprise in Illinois,
24	32		22 whether for profit or not for profit, that (i) has employed at
25	33		23 least 5 employees in the State during every quarter of the
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29		-	HB1147 Engrossed LRB103 04802 SPS 49812 b
	37	+	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1147 Introduced , by Rep. Charles Meier SYNOPSIS AS INTRODUCED:
	38	+	820 ILCS 80/5 820 ILCS 80/5
	39	+	820 ILCS 80/5
	40	+	Amends the Illinois Secure Choice Savings Program Act. Provides that the definition of "employer" does not include a volunteer fire department. Effective immediately.
	41	+	LRB103 04802 SPS 49812 b LRB103 04802 SPS 49812 b
	42	+	LRB103 04802 SPS 49812 b
	43	+	A BILL FOR
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32		-	HB1147 Engrossed- 2 -LRB103 04802 SPS 49812 b HB1147 Engrossed - 2 - LRB103 04802 SPS 49812 b
33		-	HB1147 Engrossed - 2 - LRB103 04802 SPS 49812 b
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	49	+	820 ILCS 80/5
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	53	+	LRB103 04802 SPS 49812 b
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	63	+	HB1147 LRB103 04802 SPS 49812 b
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	66	+	HB1147- 2 -LRB103 04802 SPS 49812 b HB1147 - 2 - LRB103 04802 SPS 49812 b
	67	+	HB1147 - 2 - LRB103 04802 SPS 49812 b
34	68		1 previous calendar year, (ii) has been in business at least 2
35	69		2 years, and (iii) has not offered a qualified retirement plan,
36	70		3 including, but not limited to, a plan qualified under Section
37	71		4 401(a), Section 401(k), Section 403(a), Section 403(b),
38	72		5 Section 408(k), Section 408(p), or Section 457(b) of the
39	73		6 Internal Revenue Code of 1986 in the preceding 2 years.
40	74		7 "Employer" does not include a volunteer fire department.
41	75		8 "Enrollee" means any employee who is enrolled in the
42	76		9 Program.
43	77		10 "Fund" means the Illinois Secure Choice Savings Program
44	78		11 Fund.
45	79		12 "Internal Revenue Code" means Internal Revenue Code of
46	80		13 1986, or any successor law, in effect for the calendar year.
47	81		14 "IRA" means a Roth or Traditional IRA (individual
48	82		15 retirement account) under Section 408 or 408A of the Internal
49	83		16 Revenue Code.
50	84		17 "Participating employer" means an employer or small
51	85		18 employer that facilitates a payroll deposit retirement savings
52	86		19 arrangement as provided for by this Act for its employees.
53	87		20 "Payroll deposit retirement savings arrangement" means an
54	88		21 arrangement by which a participating employer facilitates
55	89		22 payroll deduction contributions from enrollees to the Program.
56	90		23 "Program" means the Illinois Secure Choice Savings
57	91		24 Program.
58	92		25 "Small employer" means a person or entity engaged in a
59	93		26 business, industry, profession, trade, or other enterprise in
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65		-	HB1147 ~~Engrossed~~ - 2 - LRB103 04802 SPS 49812 b
	99	+	HB1147 - 2 - LRB103 04802 SPS 49812 b
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68		-	HB1147 ~~Engrossed~~- 3 -LRB103 04802 SPS 49812 b HB1147 ~~Engrossed~~ - 3 - LRB103 04802 SPS 49812 b
69		-	HB1147 ~~Engrossed~~ - 3 - LRB103 04802 SPS 49812 b
	102	+	HB1147- 3 -LRB103 04802 SPS 49812 b HB1147 - 3 - LRB103 04802 SPS 49812 b
	103	+	HB1147 - 3 - LRB103 04802 SPS 49812 b
70	104		1 Illinois, whether for profit or not for profit, that (i)
71	105		2 employed less than 5 employees during any quarter of the
72	106		3 previous calendar year, or (ii) has been in business less than
73	107		4 2 years, or both items (i) and (ii), but that notifies the
74	108		5 Board that it is interested in being a participating employer.
75	109		6 "Wages" means any compensation within the meaning of
76	110		7 Section 219(f)(1) of the Internal Revenue Code that is
77	111		8 received by an enrollee from a participating employer during
78	112		9 the calendar year.
79	113		10 (Source: P.A. 101-353, eff. 8-9-19; 102-179, eff. 1-1-22.)
80	114		11 Section 99. Effective date. This Act takes effect upon
81	115		12 becoming law.
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87		-	HB1147 ~~Engrossed~~ - 3 - LRB103 04802 SPS 49812 b
	121	+	HB1147 - 3 - LRB103 04802 SPS 49812 b