Bills Pending Illinois Senate Tax Exemptions and Credits Committee

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ILSB1655IntroAmends the Illinois Income Tax Act. Creates an income tax deduction for an amount of up to $50,000 per tax year contributed to a small business asset purchase account and all interest earned on such accounts during the tax year. Provides that a "smal...
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2019-03-20
To Senate Tax Exemptions and Credits Committee
ILSB1512IntroAmends the Illinois Income Tax Act. Provides that the credit for student assistance contributions sunsets on December 30, 2025 (instead of December 30, 2020). Provides that the credit for student-assistance contributions may not exceed $1,000 (curren...
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2019-03-19
To Senate Tax Exemptions and Credits Committee
ILSB1484IntroAmends the Illinois Income Tax Act. Creates a child tax credit in an amount equal to 10% of the federal tax credit allowed under Section 24 of the federal Internal Revenue Code. Effective immediately.
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2019-03-11
To Senate Tax Exemptions and Credits Committee
ILSB1471IntroAmends the Illinois Income Tax Act. Provides that each eligible student is entitled to a refundable income tax credit in an amount equal to $500. Provides that, if the eligible student may be claimed as a dependent on another taxpayer's return, then ...
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2019-03-07
To Senate Tax Exemptions and Credits Committee
ILSB1232IntroAmends the Small Business Job Creation Tax Credit Act. Provides that the Act applies for a second set of incentive periods beginning on July 1, 2019 and ending on June 30, 2026. Provides that certain provisions concerning employees who had participat...
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2019-03-07
To Senate Tax Exemptions and Credits Committee
ILSB1742IntroAmends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2020, the exclusion amount shall be the applicable exclusion amount under the Internal Revenue Code. Effective immediately.
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2019-03-07
To Senate Tax Exemptions and Credits Committee
ILSB1390IntroAmends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the manufacturing and assembling machinery and equipment exemption includes production related tangible personal pro...
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2019-03-07
To Senate Tax Exemptions and Credits Committee
ILSB1678IntroAmends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that products purchased by an eligible apiarist for use in producing honey bee products for sale or for providing bee pol...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1686IntroAmends the Use Tax Act and the Service Use Tax Act. Provides that the multistate exemption includes the return of property of an out-of-State lessor or purchaser to this State for storage, repair, or refurbishment, so long as the property is not used...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1883IntroAmends the Illinois Income Tax Act. Creates an income tax credit for an Illinois business that increases its average full-time employee head count in the State for the taxable year by more than 20% over its average full-time employee head count in th...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1817IntroAmends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the tax imposed on mid-range ethanol blends applies to (i) 80% of the proceeds of sales made on or after July 1, 201...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1328IntroAmends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 1% of the expenses claimed by the taxpayer as a federal income tax deduction pursuant to Section 179 of the Internal Revenue Code for the tax year. Provides that t...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1432IntroAmends the Illinois Income Tax Act. Provides that a taxpayer who may claim a qualifying student as a dependent is allowed a credit of up to $2,000 for qualified tuition and fee expenses paid by the taxpayer. Provides that the term qualifying student ...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1824IntroAmends the Illinois Income Tax Act. Provides that, if a taxpayer who is engaged in the business of providing dry cleaning services performs those services for a charitable organization that provides or maintains clothing for inmates at a State or fed...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB0186IntroAmends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for the purpose of purchasing acoustical materials, other materials, labor, and professional services to so...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1350IntroAmends the Illinois Income Tax Act. Increases the research and development credit by providing that the increase in research and development activities shall be based on an increase over 50% of the average of the qualifying expenditures for each year...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1925IntroAmends the Illinois Income Tax Act. Creates the Lincoln-Douglas Historic Tax Credit. Provides that a taxpayer is entitled to a credit of up to 25% of the qualified expenditures incurred by the taxpayer for a qualified rehabilitation of a historic str...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1727IntroAmends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that no tax shall be imposed under the Act for persons dying on or after July 1, 2019 or for transfers made on or after July 1, 2019. Effective immediately.
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1906IntroAmends the Illinois Income Tax Act. Creates a credit in an amount equal to 20% of the gross wages paid by the taxpayer to a qualified youth in care in the course of that youth's sustained employment during the taxable year. Provides that the credit m...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1905IntroAmends the Illinois Income Tax Act. Provides that the research and development credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 taxable years (currently, 5 taxable years). Makes changes concernin...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1555IntroAmends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2020, sales of motor fuel are exempt from taxation under the Acts. Effective immediately.
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB0216IntroAmends the Illinois Income Tax Act. Creates an income tax credit for qualified education expenses incurred by employers on behalf of qualifying apprentices. Effective immediately.
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1676IntroAmends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Reinstates the exemption for the use or sale of tangible personal property purchased from an Illinois retailer by a taxpayer engag...
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2019-03-06
To Senate Tax Exemptions and Credits Committee
ILSB1348IntroAmends the Property Tax Code. Provides that the abatement for property located in an area of urban decay also applies to newly remodeled single-family or duplex residential dwelling units (currently, only newly constructed single-family or duplex dwe...
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2019-02-21
To Senate Tax Exemptions and Credits Committee
ILSB1248IntroAmends the Property Tax Code. Provides that the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. Provides that the owner of the property shall obtain approval from the ...
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2019-02-21
To Senate Tax Exemptions and Credits Committee
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