Illinois House Bill 1241

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Spectrum: Moderate Partisan Bill (Democrat 25-7)
Status: Introduced on January 18 2023 - 25% progression
Action: 2024-05-02 - Added Co-Sponsor Rep. Sharon Chung
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Endow Illinois Tax Credit Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who provide an endowment gift to a permanent endowment fund during the taxable year and receive a certificate of receipt for that gift. Provides that the credit is equal to 25% of the endowment gift. Contains provisions setting forth maximum credit amounts. Amends the Illinois Income Tax Act to require an addition modification equal to the amount of any federal deduction claimed for an endowment gift for which a taxpayer receives a credit under the Endow Illinois Tax Credit Act. Makes conforming changes. Effective immediately.

ENDOW ILLINOIS CREDIT

Rep. Margaret Croke [D]	Rep. Norine Hammond [R]	Rep. Elizabeth Hernandez [D]	Rep. Natalie Manley [D]
Rep. Ryan Spain [R]	Rep. William Davis [D]	Rep. Joe Sosnowski [R]	Rep. Robert Rita [D]
Rep. Daniel Swanson [R]	Rep. Maurice West [D]	Rep. Travis Weaver [R]	Rep. Dave Severin [R]
Rep. Edgar Gonzalez [D]	Rep. Gregg Johnson [D]	Rep. Joyce Mason [D]	Rep. Mary Flowers [D]
Rep. Bob Morgan [D]	Rep. Nabeela Syed [D]	Rep. William Hauter [R]	Rep. LaShawn Ford [D]
Rep. Kevin Olickal [D]	Rep. Angelica Guerrero-Cuellar [D]	Rep. Diane Blair-Sherlock [D]	Rep. Aaron Ortiz [D]
Rep. Matt Hanson [D]	Rep. Katie Stuart [D]	Rep. Dagmara Avelar [D]	Rep. Dave Vella [D]
Rep. Anna Moeller [D]	Rep. Harry Benton [D]	Rep. Jay Hoffman [D]	Rep. Sharon Chung [D]

Date	Chamber	Action
2024-05-02	House	Added Co-Sponsor Rep. Sharon Chung
2024-04-11	House	Added Co-Sponsor Rep. Jay Hoffman
2024-04-05	House	House Committee Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee
2024-04-05	House	House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2024-04-05	House	Rule 19(a) / Re-referred to Rules Committee
2024-03-08	House	House Committee Amendment No. 2 To Revenue - Tax Credit and Incentives Subcommittee
2024-03-08	House	House Committee Amendment No. 1 To Revenue - Tax Credit and Incentives Subcommittee
2024-03-08	House	To Revenue - Tax Credit and Incentives Subcommittee
2024-03-05	House	House Committee Amendment No. 2 Rules Refers to Revenue & Finance Committee
2024-02-26	House	Added Co-Sponsor Rep. Harry Benton
2024-02-20	House	House Committee Amendment No. 2 Referred to Rules Committee
2024-02-20	House	House Committee Amendment No. 2 Filed with Clerk by Rep. Margaret Croke
2024-01-31	House	House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2024-01-31	House	Assigned to Revenue & Finance Committee
2024-01-23	House	Added Co-Sponsor Rep. Anna Moeller
2023-12-20	House	Added Co-Sponsor Rep. Dave Vella
2023-12-13	House	Added Co-Sponsor Rep. Dagmara Avelar
2023-12-07	House	Added Co-Sponsor Rep. Katie Stuart
2023-05-19	House	Removed Co-Sponsor Rep. Lilian Jiménez
2023-05-10	House	Added Co-Sponsor Rep. Matt Hanson
2023-05-10	House	Added Co-Sponsor Rep. Aaron M. Ortiz
2023-05-05	House	Added Co-Sponsor Rep. Diane Blair-Sherlock
2023-05-05	House	Added Chief Co-Sponsor Rep. Natalie A. Manley
2023-04-27	House	Added Co-Sponsor Rep. Angelica Guerrero-Cuellar
2023-04-14	House	Added Co-Sponsor Rep. Kevin John Olickal
2023-04-11	House	Added Co-Sponsor Rep. La Shawn K. Ford
2023-04-11	House	Added Co-Sponsor Rep. William E Hauter
2023-04-11	House	Added Co-Sponsor Rep. Lilian Jiménez
2023-04-11	House	Added Co-Sponsor Rep. Nabeela Syed
2023-04-04	House	Added Co-Sponsor Rep. Bob Morgan
2023-04-04	House	Added Co-Sponsor Rep. Mary E. Flowers
2023-04-03	House	Added Co-Sponsor Rep. Joyce Mason
2023-03-23	House	Added Co-Sponsor Rep. Gregg Johnson
2023-03-23	House	Added Co-Sponsor Rep. Edgar Gonzalez, Jr.
2023-03-22	House	Added Co-Sponsor Rep. Dave Severin
2023-03-13	House	Added Chief Co-Sponsor Rep. Ryan Spain
2023-03-10	House	House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2023-03-10	House	Rule 19(a) / Re-referred to Rules Committee
2023-03-07	House	House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2023-03-02	House	House Committee Amendment No. 1 Referred to Rules Committee
2023-03-02	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Margaret Croke
2023-02-28	House	Added Co-Sponsor Rep. Travis Weaver
2023-02-23	House	Added Chief Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
2023-02-16	House	To Revenue - Tax Credit and Incentives Subcommittee
2023-02-14	House	Added Co-Sponsor Rep. Maurice A. West, II
2023-02-10	House	Added Co-Sponsor Rep. Dan Swanson
2023-02-08	House	Added Co-Sponsor Rep. Robert "Bob" Rita
2023-02-07	House	Assigned to Revenue & Finance Committee
2023-01-31	House	Referred to Rules Committee
2023-01-31	House	First Reading
2023-01-27	House	Added Co-Sponsor Rep. Joe C. Sosnowski
2023-01-19	House	Added Co-Sponsor Rep. William "Will" Davis
2023-01-19	House	Added Chief Co-Sponsor Rep. Norine K. Hammond
2023-01-18	House	Filed with the Clerk by Rep. Margaret Croke

Chapter	Article	Section	Citation Type	Statute Text
35	5	203	Amended Code	Citation Text
35	5	234	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1241&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB1241.htm
Amendment	https://www.ilga.gov/legislation/103/HB/10300HB1241ham001.htm
Amendment	https://www.ilga.gov/legislation/103/HB/10300HB1241ham002.htm