Illinois House Bill 3685 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on February 26 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that a taxing district may grant an abatement for property that contains an expanded business facility. Defines "expanded business facility" to include a requirement that the business must create a certain number of new employment positions at the facility. Contains provisions allowing for an enhanced abatement for certain facilities. Amends the Illinois Income Tax Act to create a credit equal to a percentage of the remaining tax liability for the property. Effective immediately.

PROP TX-INC TX-BUSINESS CREDIT

Rep. Litesa Wallace [D]

Date	Chamber	Action
2015-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2015-03-13	House	To Property Tax Subcommittee
2015-03-10	House	Assigned to Revenue & Finance Committee
2015-02-26	House	Referred to Rules Committee
2015-02-26	House	First Reading
2015-02-26	House	Filed with the Clerk by Rep. Litesa E. Wallace

Chapter	Article	Section	Citation Type	Statute Text
35	200	18-184.15	New Code	See Bill Text
35	5	224	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3685&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB3685.htm