Illinois House Bill 5521 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 28 2022 - 25% progression, died in committee
Action: 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Economic Development for a Growing Economy Tax Credit Act. With respect to credits that are taken against the Taxpayer's withholding tax payments, provides that certain amounts shall be returned to the Department of Commerce and Economic Opportunity and reallocated to the local workforce investment area in which the project was located if, during the term of the Agreement or at any time within 20 years after the expiration of the Agreement, the Taxpayer sells its operations or the principal part of the portion of its operations that is located in the State. Provides that the provisions do not apply if the sale is at a loss to the Taxpayer.

INC TX-EDGE WITHHOLDING

Rep. Bradley Stephens [R]

Date	Chamber	Action
2022-02-18	House	Rule 19(a) / Re-referred to Rules Committee
2022-02-15	House	To Income Tax Subcommittee
2022-02-09	House	Assigned to Revenue & Finance Committee
2022-01-31	House	Referred to Rules Committee
2022-01-31	House	First Reading
2022-01-28	House	Filed with the Clerk by Rep. Bradley Stephens

Chapter	Article	Section	Citation Type	Statute Text
35	10	5-15	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5521&GAID=16&DocTypeID=HB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/HB/10200HB5521.htm