Bill Texts: IL HB5953 | 2017-2018 | 100th General Assembly

Bill Title: Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the investment made by the taxpayer during the taxable year in a Qualified Opportunity Fund. Provides that no such credit may be taken for any taxable year that begins prior to January 1, 2020. Provides that excess credits may be carried forward or back. Provides that the aggregate amount of the Qualified Opportunity Fund tax credit shall be limited to $100,000,000 per calendar year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB5953 Detail]

Bill Drafts

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Introduced2018-09-05HTML/TextLinkView

Amendments

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No bill amendments currently on file for Illinois HB5953

Supplemental Documents

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No supplemental documents for Illinois HB5953 currently on file.

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