Bill Status of SB3395  103rd General Assembly

Short Description:  MUSIC TAX CREDIT ACT

Senate Sponsors
Sen. Sara Feigenholtz - Lakesia Collins, Mike Porfirio, Bill Cunningham, Mattie Hunter, Paul Faraci, Laura Ellman and Laura Fine

Last Action
DateChamber Action
  5/3/2024SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
New Act
5 ILCS 140/7.5
35 ILCS 5/203
35 ILCS 5/222
35 ILCS 5/241 new
35 ILCS 5/242 new
35 ILCS 17/10-1
35 ILCS 17/10-5
35 ILCS 17/10-10
35 ILCS 17/10-15
35 ILCS 17/10-20
35 ILCS 17/10-25
35 ILCS 17/10-30
35 ILCS 17/10-40
35 ILCS 17/10-50


Synopsis As Introduced
Creates the Music and Musicians Tax Credit and Jobs Act. Provides that the Department of Commerce and Economic Opportunity may award credits to qualified music companies. Creates the Music Education Scholarship Act. Provides that the Board of Higher Education may award scholarships to applicants who are enrolled in or accepted for admission to an associate, baccalaureate, or graduate degree program in music education and who agree to meet certain teaching obligations. Amends the Illinois Income Tax Act. Creates certain income tax credits for theater infrastructure projects. Amends the Live Theater Production Tax Credit Act. Renames the Act as the Live Music and Theater Production Tax Credit Act. Provides that the Act also applies to musical performances.

Actions 
DateChamber Action
  2/8/2024SenateFiled with Secretary by Sen. Sara Feigenholtz
  2/8/2024SenateFirst Reading
  2/8/2024SenateReferred to Assignments
  2/20/2024SenateAssigned to Revenue
  3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
  3/25/2024SenateAdded as Chief Co-Sponsor Sen. Lakesia Collins
  4/5/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024
  4/9/2024SenateAdded as Co-Sponsor Sen. Mike Porfirio
  4/9/2024SenateAdded as Co-Sponsor Sen. Bill Cunningham
  4/9/2024SenateAdded as Co-Sponsor Sen. Mattie Hunter
  4/9/2024SenateAdded as Co-Sponsor Sen. Paul Faraci
  4/10/2024SenateAdded as Co-Sponsor Sen. Laura Ellman
  4/23/2024SenateAdded as Co-Sponsor Sen. Laura Fine
  5/3/2024SenateRule 3-9(a) / Re-referred to Assignments