Date	Chamber	Action
1/8/2019	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 5/224 new

Synopsis As Introduced
Creates the Business and Employment Development Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may certify a business as eligible for an income tax credit under the Act and may award credits to certified businesses. Sets forth the amount of the credit, which is calculated as a percentage of the wages paid to new or retained full-time and part-time employees. Provides that the duration of the credit is 5 taxable years, except that the credit may be carried forward for 5 years. Contains provisions concerning recapture of the credit. Amends the Illinois Income Tax Act to make conforming changes. Provides that the Business and Employment Development Tax Credit is exempt from the Act's automatic sunset provision. Effective immediately.

Actions 

Date	Chamber	Action
2/8/2017	House	Filed with the Clerk by Rep. Michael J. Zalewski
2/8/2017	House	First Reading
2/8/2017	House	Referred to Rules Committee
2/22/2017	House	Assigned to Revenue & Finance Committee
3/9/2017	House	To Growth, Reform & Fairness Subcommittee
3/29/2017	House	Added Chief Co-Sponsor Rep. Keith R. Wheeler
3/31/2017	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2019	House	Session Sine Die

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