Comments: IL SB2217 | 2015-2016 | 99th General Assembly
Bill Title: Creates the Illinois Rehabilitation and Revitalization Tax Credit Act. Creates a credit against taxes imposed under the Illinois Income Tax Act and the Illinois Insurance Code in an aggregate amount equal to 20% of qualified expenditures incurred by a qualified taxpayer pursuant to a qualified rehabilitation plan on a qualified structure, provided that the total amount of such qualified expenditures exceeds the greater of $5,000 or the adjusted basis of the property. Contains provisions concerning the transfer of credits. Sets forth the maximum annual amount of credits that may be approved by the Department. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Effective January 1, 2017.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2016-05-13 - Rule 3-9(a) / Re-referred to Assignments [SB2217 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2016-05-13 - Rule 3-9(a) / Re-referred to Assignments [SB2217 Detail]
Text: Latest bill text (Introduced) [HTML]
PolitiCorps Conversations
Start PolitiCorps DebateTitle | PolitiCorps | Access | Comments | Views | Last Post |
---|---|---|---|---|---|
There are no visible public or private PolitiCorps discussions concerning the 2015 Illinois SB2217 at this time. |