Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act and the Illinois Income Tax Act. Provides that, with respect to any project located at an ethanol plant, if the amount of the credit exceeds the taxpayer's Illinois income tax liability for the taxable year, then the excess credit amounts may be refunded to the taxpayer. Provides that refundable credits may not be transferred to a separate business firm or to a non-ethanol producing subsidiary of the same firm. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB3316 Detail]

Text: Latest bill text (Introduced) [HTML]

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