IL HB3361 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that the Department of Commerce and Economic Opportunity may designate investment zones. Provides that an area is eligible for designation as an investment zone if the median household income is less than 125% of the federal poverty level. Provides that the corporate authorities of the municipality in which a prospective investment zone is located may apply with the Department of Commerce and Economic Opportunity to have the area designated as an investment zone. Provides for an income tax credit for site remediation in an investment zone. Provides that the credit for wages paid to ex-felons shall be equal to 25% (currently, 5%) of those wages. Provides that the total credit for each ex-offender may not exceed $2,500 (currently, $1,500). Requires qualified ex-offenders to complete certain job training programs. Amends the Retailers' Occupation Tax Act. Provides for a building materials exemption for investment zones.
Title
REVENUE-EXEMPTIONS
Sponsors
Sen. Elgie Sims [D] |
History
Date | Chamber | Action |
---|---|---|
2019-01-08 | House | Session Sine Die |
2017-03-31 | House | Rule 19(a) / Re-referred to Rules Committee |
2017-03-09 | House | To Growth, Reform & Fairness Subcommittee |
2017-02-22 | House | Assigned to Revenue & Finance Committee |
2017-02-10 | House | Referred to Rules Committee |
2017-02-10 | House | First Reading |
2017-02-09 | House | Filed with the Clerk by Rep. Elgie R. Sims, Jr. |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 120 | 5k | Amended Code | Citation Text |
35 | 5 | 201 | Amended Code | Citation Text |
35 | 5 | 216 | Amended Code | Citation Text |
415 | 5 | 58.14a | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3361&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/HB/10000HB3361.htm |