Illinois General Assembly - Bill Status for SB 346

Replaces everything after the enacting clause. Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that, for agreements entered into on or after the effective date of the amendatory Act, no Taxpayer may elect to apply the credit against its withholding tax liability unless: (i) the General Assembly authorizes that election by law; (ii) the Taxpayer agrees to hire a specified number of New Employees at a project location in a geographic area of high poverty or high unemployment, or the Taxpayer agrees to hire a specified number of New Employees who reside in an area of high poverty or high unemployment; (iii) the Taxpayer applies with the Department of Commerce and Economic Opportunity for a Credit prior to the date the General Assembly authorizes the election; (iv) the Taxpayer submits a statement containing certain tax information; and (v) the Agreement includes a consent by the Taxpayer to allow the Department of Commerce and Economic Opportunity to confirm with the Department of Revenue the accuracy of the tax information submitted by the Taxpayer. Provides that each application for credits must contain an affidavit signed by the Taxpayer's chief executive officer or chief financial officer, or an individual holding an equivalent position, stating that, but for the Credit, the Taxpayer would not locate the project in the State. Provides that, if the applicant has 100 or fewer employees, then the project is not required to meet the capital improvement requirements. Requires the Department to post the taxpayer's tax information on its website. In the case of all EDGE credits, provides that, if the Applicant's project includes retained employees, the Credit may also include an amount agreed to between the Department and the Applicant based on the severity of the poverty or unemployment in the geographic area in which the Applicant's project is located or the retained employees reside. Provides that that amount may not be more than 40% of the total amount withheld from the compensation of retained employees. Amends the Illinois Income Tax Act to allow the Department of Revenue to provide information to the Department of Commerce and Economic Opportunity for the purpose of confirming the tax information submitted by the Taxpayer. Contains provisions limiting the liability of the Taxpayer's Chief Executive Officer and Board of Directors for breach of fiduciary duty related to the Taxpayer's actions in (i) keeping its corporate headquarters or any office, plant, factory, or worksite of the corporation in Illinois pursuant to an agreement under the Act or (ii) relocating the Taxpayer's corporate headquarters or any office, plant, factory, or worksite of the corporation to Illinois pursuant to an agreement under the Act. Amends the Use Tax Act and the Service Use Tax Act. Extends the Manufacturer's Purchase Credit until February 28, 2015 (now, August 30, 2014). Effective immediately.

Date	Chamber	Action
1/13/2015	Senate	Session Sine Die

Date	Chamber	Action
1/23/2013	Senate	Filed with Secretary by Sen. John J. Cullerton
1/23/2013	Senate	First Reading
1/23/2013	Senate	Referred to Assignments
3/13/2013	Senate	Assigned to Executive
3/20/2013	Senate	Do Pass Executive; 010-000-000
3/20/2013	Senate	Placed on Calendar Order of 2nd Reading March 21, 2013
4/12/2013	Senate	Second Reading
4/12/2013	Senate	Placed on Calendar Order of 3rd Reading April 16, 2013
4/16/2013	Senate	Re-referred to Assignments
3/5/2014	Senate	Approved for Consideration Assignments
3/5/2014	Senate	Placed on Calendar Order of 3rd Reading March 6, 2014
3/6/2014	Senate	Added as Chief Co-Sponsor Sen. Don Harmon
3/20/2014	Senate	Consent for Chief Co-Sponsor (Senator Harmon) to present bill on 3rd Reading-Pursuant to Senate Rule 5-1(b)(i).
4/10/2014	Senate	Third Reading - Passed; 039-019-000
4/11/2014	House	Arrived in House
4/11/2014	House	Chief House Sponsor Rep. Michael J. Madigan
4/16/2014	House	First Reading
4/16/2014	House	Referred to Rules Committee
4/28/2014	House	Assigned to Executive Committee
5/15/2014	House	Re-assigned to Revenue & Finance Committee
5/16/2014	House	Committee Deadline Extended-Rule 9(b) May 23, 2014
5/23/2014	House	Final Action Deadline Extended-9(b) May 30, 2014
5/27/2014	House	Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-002-000
5/27/2014	House	Remains in Revenue & Finance Committee
5/27/2014	House	Do Pass / Short Debate Revenue & Finance Committee; 006-004-000
5/27/2014	House	Placed on Calendar 2nd Reading - Short Debate
5/27/2014	House	Second Reading - Short Debate
5/27/2014	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/30/2014	House	House Floor Amendment No. 1 Filed with Clerk by Rep. John E. Bradley
5/30/2014	House	House Floor Amendment No. 1 Referred to Rules Committee
5/30/2014	House	House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 003-001-000
5/30/2014	House	Recalled to Second Reading - Short Debate
5/30/2014	House	House Floor Amendment No. 1 Adopted
5/30/2014	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/30/2014	House	Third Reading - Short Debate - Passed 107-004-000
5/30/2014	Senate	Secretary's Desk - Concurrence House Amendment(s) 1
5/30/2014	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 30, 2014
5/30/2014	House	Added Alternate Chief Co-Sponsor Rep. Mary E. Flowers
5/30/2014	House	Added Alternate Chief Co-Sponsor Rep. John E. Bradley
5/30/2014	House	Added Alternate Chief Co-Sponsor Rep. David Harris
5/30/2014	House	Added Alternate Chief Co-Sponsor Rep. Katherine Cloonen
5/30/2014	House	Added Alternate Co-Sponsor Rep. Carol A. Sente
5/30/2014	House	Added Alternate Co-Sponsor Rep. Jack D. Franks
5/30/2014	House	Added Alternate Co-Sponsor Rep. Jerry F. Costello, II
5/30/2014	Senate	Added as Chief Co-Sponsor Sen. Andy Manar
7/1/2014	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
1/13/2015	Senate	Session Sine Die

	Deletes reference to:
	35 ILCS 200/1-55

	Adds reference to:
	35 ILCS 10/5-5