Bill Status of HB 1349   95th General Assembly


Short Description:  EDGE CREDIT-TRANSFERS

House Sponsors
Rep. Kurt M. Granberg

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 715/25
35 ILCS 5/211
35 ILCS 10/5-45

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act and the Illinois Income Tax Act. Provides that a taxpayer who has been awarded a credit under the Economic Development for a Growing Economy tax credit program may sell the credit in the secondary financial markets with 100% of the proceeds of the sale by the applicant to be used to offset the costs of the project. Amends the Corporate Accountability for Tax Expenditures Act and the Illinois Income Tax Act to make corresponding changes. Effective immediately.

Actions 
DateChamber Action
  2/20/2007HouseFiled with the Clerk by Rep. Kurt M. Granberg
  2/20/2007HouseFirst Reading
  2/20/2007HouseReferred to Rules Committee
  2/22/2007HouseAssigned to Revenue Committee
  3/23/2007HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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