Bill Status of HB 1511   95th General Assembly

Short Description:  ENDOWMENT DONATION CREDIT

House Sponsors
Rep. Robert F. Flider-Robert W. Pritchard-Mike Bost, Mike Boland, Naomi D. Jakobsson, Elizabeth Coulson and Dave Winters

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/218 new

Synopsis As Introduced
Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Commerce and Economic Opportunity to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize in any calendar year may not exceed $50,000,000. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately.

Actions 
DateChamber Action
  2/21/2007HouseFiled with the Clerk by Rep. Robert F. Flider
  2/22/2007HouseFirst Reading
  2/22/2007HouseReferred to Rules Committee
  2/23/2007HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard
  2/27/2007HouseAssigned to Revenue Committee
  3/14/2007HouseAdded Chief Co-Sponsor Rep. Mike Bost
  3/22/2007HouseAdded Co-Sponsor Rep. Mike Boland
  3/22/2007HouseAdded Co-Sponsor Rep. Naomi D. Jakobsson
  3/23/2007HouseRule 19(a) / Re-referred to Rules Committee
  6/27/2007HouseAdded Co-Sponsor Rep. Elizabeth Coulson
  1/23/2008HouseAdded Co-Sponsor Rep. Dave Winters
  2/6/2008HouseAssigned to Revenue Committee
  3/14/2008HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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