IL SB0172 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Slight Partisan Bill (Democrat 20-10)
Status: Introduced on January 31 2023 - 25% progression
Action: 2024-05-09 - Added as Co-Sponsor Sen. Natalie Toro
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 31 2023 - 25% progression
Action: 2024-05-09 - Added as Co-Sponsor Sen. Natalie Toro
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Endow Illinois Tax Credit Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who provide an endowment gift to a permanent endowment fund during the taxable year and receive a certificate of receipt for that gift. Provides that the credit is equal to 25% of the endowment gift. Contains provisions setting forth maximum credit amounts. Amends the Illinois Income Tax Act to require an addition modification equal to the amount of any federal deduction claimed for an endowment gift for which a taxpayer receives a credit under the Endow Illinois Tax Credit Act. Makes conforming changes. Effective immediately.
Title
ENDOW ILLINOIS CREDIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-09 | Senate | Added as Co-Sponsor Sen. Natalie Toro |
| 2024-05-08 | Senate | Added as Co-Sponsor Sen. Neil Anderson |
| 2024-05-08 | Senate | Added as Co-Sponsor Sen. Karina Villa |
| 2024-05-07 | Senate | Added as Co-Sponsor Sen. Lakesia Collins |
| 2024-05-01 | Senate | Added as Co-Sponsor Sen. Paul Faraci |
| 2024-04-19 | Senate | Added as Co-Sponsor Sen. Bill Cunningham |
| 2024-04-11 | Senate | Added as Co-Sponsor Sen. Win Stoller |
| 2024-03-15 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2024-03-15 | Senate | Senate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments |
| 2024-03-11 | Senate | Added as Co-Sponsor Sen. Meg Loughran Cappel |
| 2024-03-07 | Senate | Added as Co-Sponsor Sen. Adriane Johnson |
| 2024-02-28 | Senate | Senate Committee Amendment No. 2 Assignments Refers to Revenue |
| 2024-02-27 | Senate | Added as Co-Sponsor Sen. Mary Edly-Allen |
| 2024-02-22 | Senate | Senate Committee Amendment No. 2 Referred to Assignments |
| 2024-02-22 | Senate | Senate Committee Amendment No. 2 Filed with Secretary by Sen. Sara Feigenholtz |
| 2024-01-24 | Senate | Re-assigned to Revenue |
| 2024-01-17 | Senate | Added as Co-Sponsor Sen. Willie Preston |
| 2024-01-16 | Senate | Added as Co-Sponsor Sen. Laura Fine |
| 2023-12-15 | Senate | Added as Co-Sponsor Sen. Donald P. DeWitte |
| 2023-05-16 | Senate | Added as Co-Sponsor Sen. Terri Bryant |
| 2023-05-04 | Senate | Added as Co-Sponsor Sen. Javier L. Cervantes |
| 2023-05-01 | Senate | Added as Co-Sponsor Sen. Robert Peters |
| 2023-04-24 | Senate | Added as Co-Sponsor Sen. Andrew S. Chesney |
| 2023-04-10 | Senate | Added as Co-Sponsor Sen. Linda Holmes |
| 2023-04-06 | Senate | Added as Co-Sponsor Sen. Ram Villivalam |
| 2023-03-24 | Senate | Added as Co-Sponsor Sen. Tom Bennett |
| 2023-03-24 | Senate | Added as Chief Co-Sponsor Sen. Dale Fowler |
| 2023-03-24 | Senate | Added as Co-Sponsor Sen. Mattie Hunter |
| 2023-03-22 | Senate | Added as Co-Sponsor Sen. Sally J. Turner |
| 2023-03-21 | Senate | Added as Co-Sponsor Sen. Sue Rezin |
| 2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2023-03-10 | Senate | Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments |
| 2023-03-07 | Senate | Senate Committee Amendment No. 1 Assignments Refers to Revenue |
| 2023-03-01 | Senate | Senate Committee Amendment No. 1 Referred to Assignments |
| 2023-03-01 | Senate | Senate Committee Amendment No. 1 Filed with Secretary by Sen. Sara Feigenholtz |
| 2023-02-16 | Senate | Added as Chief Co-Sponsor Sen. David Koehler |
| 2023-02-15 | Senate | Added as Co-Sponsor Sen. Jil Tracy |
| 2023-02-14 | Senate | Added as Chief Co-Sponsor Sen. Michael W. Halpin |
| 2023-02-10 | Senate | Added as Chief Co-Sponsor Sen. Omar Aquino |
| 2023-02-07 | Senate | Assigned to Revenue |
| 2023-01-31 | Senate | Added as Co-Sponsor Sen. Doris Turner |
| 2023-01-31 | Senate | Referred to Assignments |
| 2023-01-31 | Senate | First Reading |
| 2023-01-31 | Senate | Filed with Secretary by Sen. Sara Feigenholtz |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 203 | Amended Code | Citation Text |
| 35 | 5 | 234 | New Code | See Bill Text |
