Bill Status of HB 554   94th General Assembly

Short Description:  INC TAX-EDGE CREDIT-EXTEND

House Sponsors
Rep. William B. Black-Lisa M. Dugan, Daniel V. Beiser, Karen A. Yarbrough and Careen M Gordon

Last Action  View All Actions

DateChamber Action
  2/23/2005HouseTabled By Sponsor Rep. William B. Black

Statutes Amended In Order of Appearance
35 ILCS 5/211
35 ILCS 10/5-20
35 ILCS 10/5-45

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the duration of the credit may not exceed 15 (now, 10) taxable years. In provisions setting forth requirements for applicants for the credit, provides that for projects determined to be eligible because they meet the investment and new employee criteria established by the Department of Commerce and Economic Opportunity, the Department shall approve those that will provide a return on the State's investment. Amends the Illinois Income Tax Act to make the commensurate change extending the duration of the credit to 15 years. Effective immediately.

Actions 
DateChamber Action
  1/27/2005HouseFiled with the Clerk by Rep. William B. Black
  1/27/2005HouseFirst Reading
  1/27/2005HouseReferred to Rules Committee
  2/2/2005HouseAssigned to Revenue Committee
  2/10/2005HouseAdded Co-Sponsor Rep. Daniel V. Beiser
  2/18/2005HouseMotion Filed Rep. William B. Black; Table House Bill 554 Pursuant to Rule 60(b)
  2/23/2005HouseMotion Prevailed
  2/23/2005HouseTabled By Sponsor Rep. William B. Black
  3/15/2005HouseAdded Chief Co-Sponsor Rep. Lisa M. Dugan
  3/16/2005HouseAdded Co-Sponsor Rep. Careen M Gordon

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