Bill Title: Amends the Illinois Income Tax Act and the Economic Development for a Growing Economy Tax Credit Act. Provides that the amount of any credit awarded under the Economic Development for a Growing Economy Tax Credit Act may exceed the tax liability for the year the credit is computed. Provides that excess credit amounts may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year or refunded to the Taxpayer (instead of carried forward only). Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB0967 Detail]

Text: Latest bill text (Introduced) [HTML]

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