Illinois General Assembly - Bill Status for SB3286
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 Bill Status of SB3286  103rd General Assembly

Short Description:  REVENUE-EXEMPTIONS

Senate Sponsors
Sen. Elgie R. Sims, Jr.

Last Action
DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 5/216
35 ILCS 120/5kfrom Ch. 120, par. 444k
415 ILCS 5/58.14a

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that the Department of Commerce and Economic Opportunity may designate investment zones. Provides that an area is eligible for designation as an investment zone if the median household income is less than 125% of the federal poverty level. Provides that the corporate authorities of the municipality in which a prospective investment zone is located may apply with the Department of Commerce and Economic Opportunity to have the area designated as an investment zone. Provides for an income tax credit for site remediation in an investment zone. Provides that the credit for wages paid to ex-felons shall be equal to 25% (currently, 5%) of those wages. Provides that the total credit for each ex-offender may not exceed $2,500 (currently, $1,500). Requires qualified ex-offenders to complete certain job training programs. Amends the Retailers' Occupation Tax Act. Provides for a building materials exemption for investment zones.

DateChamber Action
  2/16/2018SenateFiled with Secretary by Sen. Elgie R. Sims, Jr.
  2/16/2018SenateFirst Reading
  2/16/2018SenateReferred to Assignments
  2/27/2018SenateAssigned to Revenue
  4/13/2018SenateRule 3-9(a) / Re-referred to Assignments
  1/9/2019SenateSession Sine Die

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