Bill Status of HB2832 100th General Assembly
Short Description: INC TX-DIGITAL MEDIA CREDIT
Rep. Arthur Turner and Marcus C. Evans, Jr.
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Interactive Digital Media Tax Credit Act. Entitles interactive digital media companies that meet certain requirements to an income tax credit in the amount of 30% of certain expenses incurred by the applicant for an accredited production in a taxable year. Authorizes taxpayers to take the credit beginning in the taxable year in which the company has met the investment requirement. Provides for the transfer of credits. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.