Illinois House Bill 6160 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 11 2010 - 25% progression, died in committee
Action: 2010-03-15 - 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. Provides that, for taxable years beginning on or after January 1, 2011 and ending on or before December 31, 2012, any taxpayer who has been awarded a credit under this Act may elect to claim all or part of the credit against the taxpayer's obligation to pay over withholding tax under the Illinois Income Tax Act. Provides that the election shall be made in the form and manner required by the Department of Commerce and Economic Opportunity and must be made at least 60 days prior to the first day of the taxable year. Provides that each employee whose taxes are withheld by an employer who retains withheld taxes under the Act must receive credit for 100% of the taxes withheld from his or her pay. Requires the Department of Revenue to file a report with the General Assembly and the Governor on or before June 1, 2013, concerning the applicants' retention of withheld taxes and economic development in Illinois. Makes other changes. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

INC TX-EDGE-WITHHOLDING

Rep. David Reis [R]

Date	Chamber	Action
2010-03-15		Rule 19(a) / Re-referred to Rules Committee
2010-02-22		Assigned to Revenue & Finance Committee
2010-02-11		Referred to Rules Committee
2010-02-11		First Reading
2010-02-11		Filed with the Clerk by Rep. David Reis

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=6160&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB6160.htm