Date	Chamber	Action
1/8/2013	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 5/223 new

Synopsis As Introduced
Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue 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 may not exceed $10,000,000 in 2012, $25,000,000 in 2013, or $50,000,000 in 2014 and each calendar year thereafter. Provides conditions for eligibility. 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 

Date	Chamber	Action
2/7/2012	Senate	Filed with Secretary by Sen. Toi W. Hutchinson
2/7/2012	Senate	First Reading
2/7/2012	Senate	Referred to Assignments
2/17/2012	Senate	Assigned to Revenue
2/21/2012	Senate	Added as Chief Co-Sponsor Sen. Pamela J. Althoff
2/23/2012	Senate	Added as Chief Co-Sponsor Sen. Antonio Muņoz
2/24/2012	Senate	Added as Co-Sponsor Sen. Darin M. LaHood
2/28/2012	Senate	Added as Co-Sponsor Sen. Dan Kotowski
2/28/2012	Senate	Added as Co-Sponsor Sen. Kirk W. Dillard
2/29/2012	Senate	Added as Co-Sponsor Sen. Mike Jacobs
3/1/2012	Senate	To Revenue Subcommittee on Tax Credits
3/9/2012	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
3/22/2012	Senate	Added as Co-Sponsor Sen. Christine J. Johnson
3/28/2012	Senate	Added as Co-Sponsor Sen. Wm. Sam McCann
3/30/2012	Senate	Rule 3-9(a) / Re-referred to Assignments
4/3/2012	Senate	Added as Co-Sponsor Sen. John M. Sullivan
11/21/2012	Senate	Sponsor Removed Sen. Antonio Muņoz
11/21/2012	Senate	Chief Sponsor Changed to Sen. Antonio Muņoz
1/8/2013	Senate	Session Sine Die

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