[1][2] The stated intent of the bill is: "To provide tax relief for small businesses, to protect jobs, to create opportunities, to increase the take home pay of workers, to amend the Portal-to-Portal Act of 1947 relating to the payment of wages to employees who use employer owned vehicles, and to amend the Fair Labor Standards Act of 1938 to increase the minimum wage rate and to prevent job loss by providing flexibility to employers in complying with minimum wage and overtime requirements under that Act.
[3][4][5] IEPA eliminated some unclear language in MEPA about cultural considerations in the foster care and adoption processes.
[4][5][6] The maximum amount claimed for capital expenses allowed by small businesses was increased by $7,000.
Small businesses were allowed to exclude as much as $5,250 from an employee's taxable income for educational assistance provided by the employer until May 1997.
Effective January 1, 1998, Section 1316 of the Act permitted certain tax exempt organizations to be shareholders in an S corporation.