Full Text of HR0833 97th General Assembly
HR0833 97TH GENERAL ASSEMBLY |
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| 1 | | HOUSE RESOLUTION
| 2 | | WHEREAS, It is essential that the State of Illinois resumes | 3 | | the task of creating new jobs and attracting new capital | 4 | | investment; Illinois was the highest-unemployment state in the | 5 | | Midwest with a seasonally adjusted unemployment rate of 9.8% at | 6 | | the end of 2011; and
| 7 | | WHEREAS, Former State and federal policies, such as the | 8 | | Economic Recovery Tax Act of 1981, created accelerated | 9 | | depreciation schedules and tax credits for the purchase of | 10 | | capital machinery and infrastructure, including heavy trucks; | 11 | | many of these benefits, although created by federal law, also | 12 | | affected Illinois tax law through the interconnection of | 13 | | federal and state definitions of taxable income; and
| 14 | | WHEREAS, Because some of these laws have expired, and the | 15 | | State of Illinois has "decoupled" itself from others, many of | 16 | | these depreciation schedules and tax credits are no longer | 17 | | available to Illinois taxpayers; and
| 18 | | WHEREAS, Investment in heavy trucks and other | 19 | | transportation equipment creates many jobs, not only by | 20 | | stimulating employment in the manufacture of trucks and truck | 21 | | components themselves, but also by enhancing the just-in-time | 22 | | delivery capabilities of a wide variety of Illinois |
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| 1 | | manufacturers and service providers, and in creating jobs for | 2 | | those who drive the trucks themselves; and
| 3 | | WHEREAS, Key existing federal and state capital-goods tax | 4 | | incentives, such as the so-called "bonus depreciation" law, are | 5 | | scheduled to expire and sunset at the end of 2012, and are not | 6 | | currently scheduled to be an incentive for decisions involving | 7 | | American investment in 2013 and following years; therefore, be | 8 | | it
| 9 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | 10 | | NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | 11 | | we urge Congress to enact a comprehensive new program to amend | 12 | | federal tax laws to enact incentives to encourage the purchase | 13 | | and lease, in 2013 and following years, of heavy trucks, | 14 | | machinery, capital goods, and other essential elements of the | 15 | | private-sector infrastructure of the United States; and be it | 16 | | further
| 17 | | RESOLVED, That we urge our fellow legislatures of the Great | 18 | | Lakes states of the United States, including Indiana, Iowa, | 19 | | Michigan, Minnesota, Missouri, Ohio, and Wisconsin, to join | 20 | | with us in urging Congress to prioritize this policy; and be it | 21 | | further | 22 | | RESOLVED, That suitable copies of this resolution be |
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| 1 | | delivered to the Speaker of the United States House of | 2 | | Representatives, the President pro tempore of the United States | 3 | | Senate, and the respective Speakers and presiding officers of | 4 | | the House of Representatives and Senate of Indiana, Iowa, | 5 | | Michigan, Minnesota, Missouri, Ohio, and Wisconsin.
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