Bill Status of SB1427 99th General Assembly
Short Description: ECON DEVELOP-CREDITS-PROJECT
Sen. Melinda Bush and Toi W. Hutchinson
(Rep. Carol Sente)
| 1/10/2017||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Makes a technical change in a Section concerning the purpose of the Act.
Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that credits may be awarded if the project includes a certain number of retained employees. Defines "retained employee" and "project". Provides that the term "new employee" does not include an employee of the Taxpayer who was previously employed in Illinois by the Taxpayer and whose employment was shifted to the project after the Taxpayer entered into the Agreement. Provides that the Director of Commerce and Economic Opportunity may approve credits for projects that do not meet the minimum job creation and investment thresholds if approval would support a business with potential to generate additional growth by attracting companion businesses or avert loss of one of the area's major sources of employment. Effective immediately.
|Date||Chamber|| Action|| 2/20/2015||Senate||Filed with Secretary by Sen. Melinda Bush|| 2/20/2015||Senate||First Reading|| 2/20/2015||Senate||Referred to Assignments|| 3/17/2015||Senate||Assigned to Revenue|| 3/20/2015||Senate||Senate Committee Amendment No. 1 Filed with Secretary by Sen. Melinda Bush|| 3/20/2015||Senate||Senate Committee Amendment No. 1 Referred to Assignments|| 3/24/2015||Senate||Senate Committee Amendment No. 1 Assignments Refers to Revenue|| 3/25/2015||Senate||Senate Committee Amendment No. 1 Adopted|| 3/26/2015||Senate||Do Pass as Amended Revenue; 011-000-000|| 3/26/2015||Senate||Placed on Calendar Order of 2nd Reading April 14, 2015|| 4/16/2015||Senate||Second Reading|| 4/16/2015||Senate||Placed on Calendar Order of 3rd Reading April 21, 2015|| 4/17/2015||Senate||Added as Co-Sponsor Sen. Toi W. Hutchinson|| 4/21/2015||Senate||Third Reading - Passed; 054-000-000|| 4/21/2015||House||Arrived in House|| 4/23/2015||House||Chief House Sponsor Rep. Carol Sente|| 4/23/2015||House||First Reading|| 4/23/2015||House||Referred to Rules Committee|| 4/27/2015||House||Assigned to Revenue & Finance Committee|| 5/8/2015||House||Committee Deadline Extended-Rule 9(b) May 15, 2015|| 5/15/2015||House||Rule 19(a) / Re-referred to Rules Committee|| 1/10/2017||Senate||Session Sine Die|