Illinois General Assembly - Bill Status for HB3685

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Bill Status of HB3685 99th General Assembly

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Short Description: PROP TX-INC TX-BUSINESS CREDIT

House Sponsors
Rep. Litesa E. Wallace

Last Action

Date	Chamber	Action
1/10/2017	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/224 new

35 ILCS 200/18-184.15 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that a taxing district may grant an abatement for property that contains an expanded business facility. Defines "expanded business facility" to include a requirement that the business must create a certain number of new employment positions at the facility. Contains provisions allowing for an enhanced abatement for certain facilities. Amends the Illinois Income Tax Act to create a credit equal to a percentage of the remaining tax liability for the property. Effective immediately.

Actions

Date	Chamber	Action
2/26/2015	House	Filed with the Clerk by Rep. Litesa E. Wallace
2/26/2015	House	First Reading
2/26/2015	House	Referred to Rules Committee
3/10/2015	House	Assigned to Revenue & Finance Committee
3/13/2015	House	To Property Tax Subcommittee
3/27/2015	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2017	House	Session Sine Die

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