Illinois General Assembly - Bill Status for SB0172
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 Bill Status of SB0172  103rd General Assembly


Short Description:  ENDOW ILLINOIS CREDIT

Senate Sponsors
Sen. Sara Feigenholtz - Omar Aquino - Michael W. Halpin - David Koehler - Dale Fowler, Doris Turner, Jil Tracy, Sue Rezin, Sally J. Turner, Mattie Hunter, Tom Bennett, Ram Villivalam, Linda Holmes, Andrew S. Chesney, Robert Peters, Javier L. Cervantes, Terri Bryant, Donald P. DeWitte, Laura Fine and Willie Preston

Last Action
DateChamber Action
  1/24/2024SenateRe-assigned to Revenue

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/234 new


Synopsis As Introduced
Creates the Endow Illinois Tax Credit Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who provide an endowment gift to a permanent endowment fund during the taxable year and receive a certificate of receipt for that gift. Provides that the credit is equal to 25% of the endowment gift. Contains provisions setting forth maximum credit amounts. Amends the Illinois Income Tax Act to require an addition modification equal to the amount of any federal deduction claimed for an endowment gift for which a taxpayer receives a credit under the Endow Illinois Tax Credit Act. Makes conforming changes. Effective immediately.

Actions 
DateChamber Action
  1/31/2023SenateFiled with Secretary by Sen. Sara Feigenholtz
  1/31/2023SenateFirst Reading
  1/31/2023SenateReferred to Assignments
  1/31/2023SenateAdded as Co-Sponsor Sen. Doris Turner
  2/7/2023SenateAssigned to Revenue
  2/10/2023SenateAdded as Chief Co-Sponsor Sen. Omar Aquino
  2/14/2023SenateAdded as Chief Co-Sponsor Sen. Michael W. Halpin
  2/15/2023SenateAdded as Co-Sponsor Sen. Jil Tracy
  2/16/2023SenateAdded as Chief Co-Sponsor Sen. David Koehler
  3/1/2023SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Sara Feigenholtz
  3/1/2023SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/7/2023SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
  3/10/2023SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments
  3/21/2023SenateAdded as Co-Sponsor Sen. Sue Rezin
  3/22/2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
  3/24/2023SenateAdded as Co-Sponsor Sen. Mattie Hunter
  3/24/2023SenateAdded as Chief Co-Sponsor Sen. Dale Fowler
  3/24/2023SenateAdded as Co-Sponsor Sen. Tom Bennett
  4/6/2023SenateAdded as Co-Sponsor Sen. Ram Villivalam
  4/10/2023SenateAdded as Co-Sponsor Sen. Linda Holmes
  4/24/2023SenateAdded as Co-Sponsor Sen. Andrew S. Chesney
  5/1/2023SenateAdded as Co-Sponsor Sen. Robert Peters
  5/4/2023SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
  5/16/2023SenateAdded as Co-Sponsor Sen. Terri Bryant
  12/15/2023SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
  1/16/2024SenateAdded as Co-Sponsor Sen. Laura Fine
  1/17/2024SenateAdded as Co-Sponsor Sen. Willie Preston
  1/24/2024SenateRe-assigned to Revenue
  2/22/2024SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Sara Feigenholtz
  2/22/2024SenateSenate Committee Amendment No. 2 Referred to Assignments

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