Illinois House Bill 5737 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Business Use Incentives for Large-Scale Development Act. Provides that the Department of Commerce and Economic Opportunity may enter into a financing agreement with an eligible industry with respect to an economic development project. Provides that those eligible industries are entitled to a credit against their Illinois income taxes in an amount not to exceed 5% of the gross wages paid in one year by an eligible industry to all eligible employees in new jobs. Provides that an "eligible industry" is a business located in the State which is engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, office industries, or agricultural processing, but excluding retail, health or professional services. Effective immediately.

LARGE SCALE BUSINESS ACT

Rep. Jerry Long [R]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2018-04-13	House	Rule 19(a) / Re-referred to Rules Committee
2018-03-08	House	To Income Tax Subcommittee
2018-02-27	House	Assigned to Revenue & Finance Committee
2018-02-16	House	Referred to Rules Committee
2018-02-16	House	First Reading
2018-02-16	House	Filed with the Clerk by Rep. Jerry Lee Long

Chapter	Article	Section	Citation Type	Statute Text
35	5	227	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5737&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB5737.htm