Illinois Senate Bill 3365 (Prior Session Legislation)

---

Completed Legislative Action
Sponsorship: Bipartisan Bill
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize may not exceed $10,000,000 in 2012, $25,000,000 in 2013, or $50,000,000 in 2014 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately.

ENDOWMENT DONATION CREDIT

Sen. Antonio Munoz [D]	Sen. Pamela Althoff [R]	Sen. Darin LaHood [R]	Sen. Dan Kotowski [D]
Sen. Kirk Dillard [R]	Sen. Mike Jacobs [D]	Sen. Christine Johnson [R]	Sen. William McCann [R]
Sen. John Sullivan [D]

Date	Chamber	Action
2013-01-08	Senate	Session Sine Die
2012-11-21	Senate	Chief Sponsor Changed to Sen. Antonio Mu
2012-11-21	Senate	Sponsor Removed Sen. Antonio Mu
2012-04-03	Senate	Added as Co-Sponsor Sen. John M. Sullivan
2012-03-30	Senate	Rule 3-9(a) / Re-referred to Assignments
2012-03-28	Senate	Added as Co-Sponsor Sen. Wm. Sam McCann
2012-03-22	Senate	Added as Co-Sponsor Sen. Christine J. Johnson
2012-03-09	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
2012-03-01	Senate	To Revenue Subcommittee on Tax Credits
2012-02-29	Senate	Added as Co-Sponsor Sen. Mike Jacobs
2012-02-28	Senate	Added as Co-Sponsor Sen. Kirk W. Dillard
2012-02-28	Senate	Added as Co-Sponsor Sen. Dan Kotowski
2012-02-24	Senate	Added as Co-Sponsor Sen. Darin M. LaHood
2012-02-23	Senate	Added as Chief Co-Sponsor Sen. Antonio Mu
2012-02-21	Senate	Added as Chief Co-Sponsor Sen. Pamela J. Althoff
2012-02-17	Senate	Assigned to Revenue
2012-02-07	Senate	Referred to Assignments
2012-02-07	Senate	First Reading
2012-02-07	Senate	Filed with Secretary by Sen. Toi W. Hutchinson

Chapter	Article	Section	Citation Type	Statute Text
35	5	223	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3365&GAID=11&DocTypeID=SB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/SB/09700SB3365.htm