Illinois House Bill 5470 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 18)
Status: Introduced on February 4 2010 - 25% progression, died in committee
Action: 2010-03-17 - Added Co-Sponsor Rep. Michael K. Smith
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Economic Development for a Growing Economy (EDGE) Tax Credit Act. Requires EDGE tax credit agreements between the Department of Commerce and Economic Opportunity and applicants to contain a provision requiring the applicant to maintain, beyond the period during which it receives the EDGE tax credit, employment payrolls at an agreed upon level. Provides that if employment payrolls are not maintained at that level for the specified term, then the taxpayer must pay an administrative penalty to the Department and shall not, until having paid that penalty, be eligible for credits against obligations imposed by the Illinois Income Tax Act. Requires the Department to deposit into the General Revenue Fund all moneys collected as a result of these penalties and to notify the Department of Revenue when a taxpayer, because of the operation of these provisions, becomes ineligible or eligible for credits against obligations imposed under the Illinois Income Tax Act. Amends the State Comptroller Act to require the Comptroller, at the direction of the Department of Commerce and Economic Opportunity, to deduct these penalties from certain warrants and payments made to the taxpayer, and to pay those amounts over to the Department for deposit into the General Revenue Fund. Effective immediately.

EDGE-REPAYMENT-JOB RETENTION

Rep. Marlow Colvin [D]	Rep. William Davis [D]	Rep. Keith Farnham [D]	Rep. Esther Golar [D]
Rep. Jehan Gordon-Booth [D]	Rep. Thomas Holbrook [D]	Rep. Eddie Jackson [D]	Rep. Louis Lang [D]
Rep. Karen May [D]	Rep. Emily McAsey [D]	Rep. Jack McGuire [D]	Rep. Deborah Mell [D]
Rep. Carol Sente [D]	Rep. Michael Smith [D]	Rep. Cynthia Soto [D]	Rep. Andre Thapedi [D]
Rep. Arthur Turner [D]	Rep. Michael Zalewski [D]

Date	Chamber	Action
2010-03-17		Added Co-Sponsor Rep. Michael K. Smith
2010-03-15		Rule 19(a) / Re-referred to Rules Committee
2010-03-11		Remains in Revenue & Finance Committee
2010-03-11		House Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
2010-03-11		House Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee
2010-03-04		Remains in Revenue & Finance Committee
2010-03-04		Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-000-000
2010-02-23		Added Co-Sponsor Rep. Emily McAsey
2010-02-17		Added Chief Co-Sponsor Rep. Thomas Holbrook
2010-02-16		Assigned to Revenue & Finance Committee
2010-02-11		Added Co-Sponsor Rep. Jack McGuire
2010-02-11		Added Co-Sponsor Rep. Lou Lang
2010-02-10		Added Co-Sponsor Rep. Esther Golar
2010-02-10		Added Co-Sponsor Rep. Karen May
2010-02-10		Added Co-Sponsor Rep. Michael J. Zalewski
2010-02-10		Added Co-Sponsor Rep. André M. Thapedi
2010-02-10		Added Co-Sponsor Rep. Marlow H. Colvin
2010-02-10		Added Co-Sponsor Rep. William Davis
2010-02-10		Added Co-Sponsor Rep. Cynthia Soto
2010-02-10		Added Co-Sponsor Rep. Arthur L. Turner
2010-02-10		Added Co-Sponsor Rep. Deborah Mell
2010-02-10		Added Co-Sponsor Rep. Carol A. Sente
2010-02-10		Chief Co-Sponsor Changed to Rep. Eddie Lee Jackson, Sr.
2010-02-10		Added Chief Co-Sponsor Rep. Eddie Lee Jackson, Sr.
2010-02-09		Added Co-Sponsor Rep. Jehan A. Gordon
2010-02-05		Referred to Rules Committee
2010-02-05		First Reading
2010-02-04		Filed with the Clerk by Rep. Keith Farnham

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5470&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB5470.htm