Bill Status of SB 1532   103rd General Assembly


Short Description:  INC TX-BEER/WINE CREDIT

Senate Sponsors
Sen. Tom Bennett

Last Action  View All Actions

DateChamber Action
  3/15/2024SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/234 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for Illinois licensed wine manufacturers and craft brewers in an amount equal to 50% of the qualified costs incurred by a qualified taxpayer during the taxable year. Prohibits a taxpayer from receiving a credit of more than $1,500. Provides that the tax credit shall be awarded on the basis of costs related to the purchase of crops used in the manufacture of beer or wine that are grown and harvested in Illinois. Defines terms. Effective immediately.

Actions 
DateChamber Action
  2/8/2023SenateFiled with Secretary by Sen. Tom Bennett
  2/8/2023SenateFirst Reading
  2/8/2023SenateReferred to Assignments
  2/14/2023SenateAssigned to Revenue
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments
  1/10/2024SenateRe-assigned to Revenue
  3/15/2024SenateRule 3-9(a) / Re-referred to Assignments

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