Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for Illinois licensed wine manufacturers and craft brewers in an amount equal to 50% of the qualified costs incurred by a qualified taxpayer during the taxable year. Prohibits a taxpayer from receiving a credit of more than $1,500. Provides that the tax credit shall be awarded on the basis of costs related to the purchase of crops used in the manufacture of beer or wine that are grown and harvested in Illinois. Defines terms. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments [SB1532 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-08	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1532

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1532 currently on file.

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