Illinois House Bill 5543 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 4-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that, beginning with taxable years ending on or after December 31, 2012 and ending with taxable years ending on or before December 31, 2017, an amount equal to 50% of the amount of expenses incurred by the taxpayer during a taxable year for the construction of a greenhouse or rehabilitation of a current facility to be used for greenhouse purposes may be deducted from the taxpayer's adjusted gross income. Provides that the taxpayer may elect to deduct 25% of the amount of these expenses in the taxable year in which they were incurred and to deduct the remaining 25% of the amount of these expenses in the next taxable year.

INC TX-GREENHOUSE DEDUCTION

Rep. John Cavaletto [R]

Rep. Renee Kosel [R]

Rep. Mike Bost [R]

Rep. Brad Halbrook [R]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2012-05-10	House	Added Chief Co-Sponsor Rep. Brad E. Halbrook
2012-02-24	House	Added Chief Co-Sponsor Rep. Mike Bost
2012-02-24	House	Added Chief Co-Sponsor Rep. Ren
2012-02-15	House	Referred to Rules Committee
2012-02-15	House	First Reading
2012-02-14	House	Filed with the Clerk by Rep. John D. Cavaletto

Chapter	Article	Section	Citation Type	Statute Text
35	5	203	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5543&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB5543.htm