Illinois General Assembly - Bill Status for SB1983
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 Bill Status of SB1983  102nd General Assembly

Short Description:  EDGE TAX CREDIT-COVID 19

Senate Sponsors
Sen. Don Harmon - Elgie R. Sims, Jr., Jil Tracy and Rachelle Crowe

House Sponsors
(Rep. Michael T. Marron)

Last Action
DateChamber Action
  1/10/2023SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 715/25
35 ILCS 10/5-55


Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may issue a certificate of verification for the credit even if the Taxpayer does not meet certain payroll and capital expenditure requirements if that failure is due to financial hardship caused by the COVID-19 pandemic. Amends the Corporate Accountability for Tax Expenditures Act. Provides that credits awarded under the Economic Development for a Growing Economy tax credit program shall not be revoked or suspended as a result of the recipient's failure to meet requirements for new or retained employees if that failure is due to financial hardship caused by the COVID-19 pandemic. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that, to avoid revocation or suspension of credits under the provisions of the bill, the Taxpayer shall also maintain job creation and retention at the level of 85% of the Agreement requirements. Provides that the taxpayer must show a direct and substantial hardship caused by the COVID-19 pandemic (in the introduced bill, a financial hardship). Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Scott M. Bennett
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/16/2021SenateAssigned to Revenue
  4/16/2021SenateRule 2-10 Committee Deadline Established As April 23, 2021
  4/20/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Scott M. Bennett
  4/20/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/21/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
  4/21/2021SenateSenate Committee Amendment No. 1 Adopted
  4/21/2021SenateDo Pass as Amended Revenue; 010-000-000
  4/21/2021SenatePlaced on Calendar Order of 2nd Reading April 22, 2021
  4/22/2021SenateSecond Reading
  4/22/2021SenatePlaced on Calendar Order of 3rd Reading April 23, 2021
  4/23/2021SenateThird Reading - Passed; 057-000-000
  4/23/2021SenateAdded as Co-Sponsor Sen. Jil Tracy
  4/26/2021SenateAdded as Co-Sponsor Sen. Rachelle Crowe
  4/26/2021SenateAdded as Chief Co-Sponsor Sen. Elgie R. Sims, Jr.
  4/26/2021HouseArrived in House
  4/26/2021HouseChief House Sponsor Rep. Michael T. Marron
  4/27/2021HouseFirst Reading
  4/27/2021HouseReferred to Rules Committee
  5/4/2021HouseAssigned to Revenue & Finance Committee
  5/15/2021HouseRule 19(a) / Re-referred to Rules Committee
  12/22/2022SenateChief Sponsor Changed to Sen. Don Harmon
  1/10/2023SenateSession Sine Die

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