Illinois General Assembly - Bill Status for HB3797
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 Bill Status of HB3797  103rd General Assembly


Short Description:  INC TX-OPPORTUNITY ZONES

House Sponsors
Rep. Justin Slaughter

Last Action
DateChamber Action
  2/17/2023HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/234 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the investment made by the taxpayer during the taxable year in a Qualified Opportunity Fund. Provides that no such credit may be taken for any taxable year that begins prior to January 1, 2023. Provides that excess credits may be carried forward or back. Provides that the aggregate amount of the Qualified Opportunity Fund tax credit shall be limited to $10,000 per taxpayer per calendar year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Actions 
DateChamber Action
  2/17/2023HouseFiled with the Clerk by Rep. Justin Slaughter
  2/17/2023HouseFirst Reading
  2/17/2023HouseReferred to Rules Committee

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