Illinois Senate Bill 2032 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Illinois State Property Revitalization Tax Credit Act. Creates a credit against taxes imposed under the Illinois Income Tax Act and the Illinois Insurance Code in an amount equal to 30% of qualified expenditures incurred by a qualified taxpayer in the rehabilitation of certain property that had been owned by the State. Provides that credits must be approved by the Department of Commerce and Economic Opportunity. Provides that credits may be transferred and assigned. Contains provisions concerning application fees. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Amends the State Property Control Act. Makes changes to provisions concerning surplus real property. Effective immediately.

INC TX-STATE PROPERTY

Sen. Steve McClure [R]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2019-03-28	Senate	Rule 3-9(a) / Re-referred to Assignments
2019-03-22	Senate	Rule 2-10 Committee Deadline Established As March 28, 2019
2019-03-05	Senate	Assigned to Revenue
2019-02-15	Senate	Referred to Assignments
2019-02-15	Senate	First Reading
2019-02-15	Senate	Filed with Secretary by Sen. Steve McClure

Chapter	Article	Section	Citation Type	Statute Text
215	5	409.2	New Code	See Bill Text
30	605	7.1	Amended Code	Citation Text
35	5	229	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2032&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB2032.htm