Bill Status of HB 2754   99th General Assembly

Short Description:  REVENUE-RIVER EDGE

House Sponsors
Rep. Jehan Gordon-Booth-Litesa E. Wallace-Joe Sosnowski-John M. Cabello-Carol Sente

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/221
215 ILCS 5/409.1 new

Synopsis As Introduced
Amends the Illinois Income Tax Act and the Illinois Insurance Code. Provides that all or a portion of the income tax credit awarded for the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone may instead be taken as a credit against privilege and retaliatory taxes paid under the Illinois Insurance Code. Provides that the credit may be transferred within one year after the credit is awarded. Provides that the credit may be transferred only once. Provides that the credit may be carried forward. Provides that the credit sunsets on January 1, 2022 (currently, January 1, 2017). Effective immediately.

Actions 
DateChamber Action
  2/20/2015HouseFiled with the Clerk by Rep. Jehan Gordon-Booth
  2/20/2015HouseFirst Reading
  2/20/2015HouseReferred to Rules Committee
  2/23/2015HouseAdded Chief Co-Sponsor Rep. Litesa E. Wallace
  3/2/2015HouseAssigned to Revenue & Finance Committee
  3/4/2015HouseAdded Chief Co-Sponsor Rep. Joe Sosnowski
  3/4/2015HouseAdded Chief Co-Sponsor Rep. John M. Cabello
  3/6/2015HouseTo Income Tax Subcommittee
  3/26/2015HouseAdded Chief Co-Sponsor Rep. Carol Sente
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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