Illinois General Assembly - Bill Status for HB0583
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 Bill Status of HB0583  95th General Assembly


Short Description:  INC TAX-EDGE CREDIT-EXTEND

House Sponsors
Rep. William B. Black and Kurt M. Granberg

Last Action
DateChamber Action
  3/29/2007HouseTabled By Sponsor Rep. William B. Black

Statutes Amended In Order of Appearance
35 ILCS 5/211
35 ILCS 10/5-20
35 ILCS 10/5-45


Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the duration of the credit may not exceed 15 (now, 10) taxable years. In provisions setting forth requirements for applicants for the credit, provides that for projects determined to be eligible because they meet the investment and new employee criteria established by the Department of Commerce and Economic Opportunity, the Department shall approve those that will provide a return on the State's investment. Amends the Illinois Income Tax Act to make the commensurate change extending the duration of the credit to 15 years. Effective immediately.

Actions 
DateChamber Action
  2/2/2007HouseFiled with the Clerk by Rep. William B. Black
  2/5/2007HouseFirst Reading
  2/5/2007HouseReferred to Rules Committee
  2/7/2007HouseAssigned to Revenue Committee
  2/21/2007HouseAdded Co-Sponsor Rep. Kurt M. Granberg
  3/8/2007HouseMotion Filed - Table Bill/Resolution Pursuant to Rule 60(b) Rep. William B. Black
  3/23/2007HouseRule 19(a) / Re-referred to Rules Committee
  3/29/2007HouseMotion Prevailed
  3/29/2007HouseTabled By Sponsor Rep. William B. Black

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