IL HB1336 | 2013-2014 | 98th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 7-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

Summary

Amends the Illinois Economic Development Board Act and the Economic Development for a Growing Economy Tax Credit Act to provide that EDGE Agreements are subject to the approval of the Illinois Economic Development Board (instead of the Illinois Business Investment Committee). Provides that the Illinois Business Investment Committee is dissolved on the effective date of the amendatory Act and all duties and responsibilities of the Committee shall be assumed by the Illinois Economic Development Board. Sets forth the membership of the Illinois Economic Development Board. Provides that the Director of Revenue and the Auditor General shall also serve as ex officio members of the Board. Sets forth the powers of the Board. Removes provisions requiring Applicants to make certain capital investments. Changes the duration of the credit from 10 years to 5 years. Provides that the credit may not exceed the lesser of the incremental income tax attributable to the project or $10,000 per New Employee. Provides that no more than $100,000,000 in credits may be awarded in State Fiscal Year 2014 or any State fiscal year thereafter. Makes other changes.

Tracking Information

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Title

EDGE-ECON DEVELOPMENT BOARD

Sponsors


History

DateChamberAction
2014-12-03HouseSession Sine Die
2013-11-05HouseAdded Co-Sponsor Rep. Maria Antonia Berrios
2013-05-29HouseAdded Co-Sponsor Rep. Derrick Smith
2013-03-22HouseHouse Committee Amendment No. 2 Rule 19(a) / Re-referred to Rules Committee
2013-03-22HouseHouse Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
2013-03-22HouseRule 19(a) / Re-referred to Rules Committee
2013-03-14HouseHouse Committee Amendment No. 2 Rules Refers to Revenue & Finance Committee
2013-03-12HouseHouse Committee Amendment No. 2 Referred to Rules Committee
2013-03-12HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Jack D. Franks
2013-02-25HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2013-02-20HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2013-02-20HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jack D. Franks
2013-02-19HouseAdded Co-Sponsor Rep. Christian L. Mitchell
2013-02-13HouseAssigned to Revenue & Finance Committee
2013-02-07HouseAdded Chief Co-Sponsor Rep. Carol A. Sente
2013-02-07HouseAdded Chief Co-Sponsor Rep. Deborah Conroy
2013-02-07HouseAdded Chief Co-Sponsor Rep. Sam Yingling
2013-02-06HouseReferred to Rules Committee
2013-02-06HouseFirst Reading
2013-02-06HouseFiled with the Clerk by Rep. Jack D. Franks

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2039653Amended CodeCitation Text
2039654Amended CodeCitation Text
35105-10Amended CodeCitation Text
35105-20Amended CodeCitation Text
35105-25Amended CodeCitation Text
35105-40Amended CodeCitation Text
35105-45Amended CodeCitation Text
35105-5Amended CodeCitation Text
35105-50Amended CodeCitation Text
35105-70Amended CodeCitation Text

Illinois State Sources


Bill Comments

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