Bill Status of HB4882 95th General Assembly
Short Description: BIOTECH INVESTMENT TAX CREDIT
Rep. Susana A Mendoza - Maria Antonia Berrios, Kevin Joyce, Mike Fortner, Kathleen A. Ryg and Ruth Munson
| 1/13/2009||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Biotechnology Investment Tax Credit Act and amends the Illinois Income Tax Act. Creates an income tax credit for qualified investors who make an investment in biotechnology companies in the State. Provides that the Department of Commerce and Economic Opportunity must certify the amount of the credit and sets forth the procedures for the application and certification of the credit. Sets forth provisions for the revocation and recapture of the tax credit. Contains other provisions. Effective immediately.