Illinois General Assembly - Bill Status for HB5817
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 Bill Status of HB5817  102nd General Assembly


Short Description:  ENDOW ILLINOIS TAX CREDIT

House Sponsors
Rep. Michael J. Zalewski - Norine K. Hammond, Joe Sosnowski, Michael Halpin, Denyse Wang Stoneback, Thomas M. Bennett, Jehan Gordon-Booth, Jackie Haas, Camille Y. Lilly, LaToya Greenwood, La Shawn K. Ford, Margaret Croke, Elizabeth Hernandez and William Davis

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

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


Synopsis As Introduced
Creates the Endow Illinois Tax Credit Act. Creates an income tax credit for taxpayers who provide an endowment gift to a permanent endowment fund. Provides that the amount of the credit is an amount equal to 50% of the endowment gift. Sets forth the aggregate amount of the credit. Provides that the Department of Revenue shall administer the credit. Provides that the Department of Revenue shall submit an annual report to the Governor and the General Assembly concerning the activities conducted under the Act during the previous calendar year. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Actions 
DateChamber Action
  10/5/2022HouseFiled with the Clerk by Rep. Michael J. Zalewski
  10/5/2022HouseAdded Chief Co-Sponsor Rep. Norine K. Hammond
  10/5/2022HouseAdded Co-Sponsor Rep. Joe Sosnowski
  10/14/2022HouseAdded Co-Sponsor Rep. Michael Halpin
  10/18/2022HouseAdded Co-Sponsor Rep. Denyse Wang Stoneback
  11/9/2022HouseAdded Co-Sponsor Rep. Thomas M. Bennett
  11/16/2022HouseFirst Reading
  11/16/2022HouseReferred to Rules Committee
  11/30/2022HouseAdded Co-Sponsor Rep. Jehan Gordon-Booth
  12/1/2022HouseAdded Co-Sponsor Rep. Jackie Haas
  12/1/2022HouseAdded Co-Sponsor Rep. Camille Y. Lilly
  12/1/2022HouseAdded Co-Sponsor Rep. LaToya Greenwood
  12/6/2022HouseAdded Co-Sponsor Rep. La Shawn K. Ford
  12/13/2022HouseAdded Co-Sponsor Rep. Margaret Croke
  12/15/2022HouseAdded Co-Sponsor Rep. Elizabeth Hernandez
  1/9/2023HouseAdded Co-Sponsor Rep. William Davis
  1/10/2023HouseSession Sine Die

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