Illinois Senate Bill 1766 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Business and Employment Development Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may certify a business as eligible for an income tax credit under the Act and may award credits to certified businesses. Sets forth the amount of the credit, which is calculated as a percentage of the wages paid to new or retained full-time and part-time employees. Provides that the duration of the credit is 5 taxable years, except that the credit may be carried forward for 5 years. Contains provisions concerning recapture of the credit. Amends the Illinois Income Tax Act to make conforming changes. Provides that the Business and Employment Development Tax Credit is exempt from the Act's automatic sunset provision. Effective immediately.

INC TX-BUSINESS DEVELOPMENT

Sen. Chuck Weaver [R]

Date	Chamber	Action
2019-01-09	Senate	Session Sine Die
2017-05-05	Senate	Rule 3-9(a) / Re-referred to Assignments
2017-04-07	Senate	Rule 2-10 Committee Deadline Established As May 5, 2017
2017-04-06	Senate	Postponed - Revenue
2017-03-17	Senate	Rule 2-10 Committee Deadline Established As April 7, 2017
2017-03-16	Senate	Postponed - Revenue
2017-03-09	Senate	Postponed - Revenue
2017-02-28	Senate	Assigned to Revenue
2017-02-09	Senate	Referred to Assignments
2017-02-09	Senate	First Reading
2017-02-09	Senate	Filed with Secretary by Sen. Chuck Weaver

Chapter	Article	Section	Citation Type	Statute Text
35	5	224	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1766&GAID=14&DocTypeID=SB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/SB/10000SB1766.htm