Illinois House Bill 5517 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on February 9 2016 - 25% progression, died in committee
Action: 2016-02-10 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department shall establish and implement a Veterans' Economic Center pilot program for the purposes of assisting veterans in finding employment and addressing the problem of veteran homelessness. Amends the Illinois Income Tax Act and the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may enter into new Agreements under the Act until December 31, 2020 (currently, December 31, 2016). Provides that a taxpayer who receives a credit under this Act for a taxable year ending on or before December 31, 2019 pursuant an Agreement entered into on or after the effective date of the amendatory Act may apply only 98% of that credit amount against his or her State income tax liability in any taxable year. Provides that the remaining 2% of the total credit amount awarded shall be transferred from the General Revenue Fund into the Veterans' Economic Center Fund. Provides that moneys in the Veterans' Economic Center Fund shall be used by the Department of Commerce and Economic Opportunity to administer the Veterans' Economic Center pilot program. Amends the State Finance Act to create the Veterans' Economic Center Fund. Effective immediately.

DCEO-VETERANS PILOT PROGRAM

Rep. Camille Lilly [D]

Date	Chamber	Action
2016-02-10	House	Referred to Rules Committee
2016-02-10	House	First Reading
2016-02-09	House	Filed with the Clerk by Rep. Camille Y. Lilly

Chapter	Article	Section	Citation Type	Statute Text
20	605	605-1020	New Code	See Bill Text
35	10	5-45	Amended Code	Citation Text
35	10	5-77	Amended Code	Citation Text
35	5	211	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5517&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB5517.htm