IL HB5349 | 2017-2018 | 100th General Assembly

Status

Spectrum: Moderate Partisan Bill (Democrat 7-2)
Status: Introduced on February 15 2018 - 25% progression
Action: 2018-04-09 - House Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. Tom Demmer
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Provides that the Department of Revenue, with the assistance of the Department of Commerce and Economic Opportunity, shall examine the investment credit and the research and development credit to determine the impact that each of these credits has on the creation and retention of jobs, and report its findings to the Governor and the General Assembly on or before December 1, 2019. Provides that the Department of Revenue, with the assistance of the Department of Commerce and Economic Opportunity, shall examine each credit against a tax imposed under the Illinois Income Tax Act on and after the effective date of this amendatory Act to determine the impact that each credit has on the creation and retention of jobs, including, but not limited to, any stated job creation goals, and report its findings for each credit to the Governor and the General Assembly on or before 3 years after the effective date of the credit in question, and on or before every 3 years thereafter. Effective immediately.

Tracking Information

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Title

IMPACT OF TAX CREDITS-REPORT

Sponsors


History

DateChamberAction
2018-04-09HouseHouse Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. Tom Demmer
2018-03-08HouseAdded Co-Sponsor Rep. Jerry Costello, II
2018-03-08HousePlaced on Calendar 2nd Reading - Short Debate
2018-03-08HouseDo Pass as Amended / Short Debate Business Growth & Incentives Committee; 003-002-000
2018-03-08HouseHouse Committee Amendment No. 1 Adopted in Business Growth & Incentives Committee; by Voice Vote
2018-03-08HouseHouse Committee Amendment No. 1 Rules Refers to Business Growth & Incentives Committee
2018-03-07HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2018-03-07HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Sue Scherer
2018-03-02HouseAdded Co-Sponsor Rep. Carol Sente
2018-03-01HouseAdded Co-Sponsor Rep. Stephanie A. Kifowit
2018-03-01HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
2018-03-01HouseAdded Chief Co-Sponsor Rep. Jaime M. Andrade, Jr.
2018-03-01HouseAdded Chief Co-Sponsor Rep. Christine Winger
2018-03-01HouseAdded Chief Co-Sponsor Rep. Steven A. Andersson
2018-03-01HouseAdded Chief Co-Sponsor Rep. La Shawn K. Ford
2018-02-26HouseAssigned to Business Growth & Incentives Committee
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-15HouseFiled with the Clerk by Rep. Sue Scherer

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355246New CodeSee Bill Text

Illinois State Sources


Bill Comments

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