Bill Title: Amends the Illinois Income Tax Act. Provides that taxpayers are entitled to an income tax credit against the taxes imposed under the River Edge Redevelopment Zone Act equal to 100% of the reasonable and prudent costs incurred by a public utility. Provides that any amount of credit that exceeds a taxpayer's liabilities shall be refunded to the taxpayer. Amends the River Edge Redevelopment Zone Act. Restricts the amount of costs recovered by a public utility from retail customers to $5,000,000. Provides for a repeal date of July 1, 2020 (currently, July 29, 2017).
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2015-01-13 - Session Sine Die
[SB2977 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Amended | 2014-03-20 | HTML/Text | Link | View |
| Amended | 2014-03-04 | HTML/Text | Link | View |
| Amended | 2014-02-25 | HTML/Text | Link | View |
| Introduced | 2014-02-04 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
|---|
| No bill amendments currently on file for Illinois SB2977 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois SB2977 currently on file. |
