Bill Title: Creates the Endow Illinois Tax Credit Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who provide an endowment gift to a permanent endowment fund during the taxable year and receive a certificate of receipt for that gift. Provides that the credit is equal to 25% of the endowment gift. Contains provisions setting forth maximum credit amounts. Amends the Illinois Income Tax Act to require an addition modification equal to the amount of any federal deduction claimed for an endowment gift for which a taxpayer receives a credit under the Endow Illinois Tax Credit Act. Makes conforming changes. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 25-7)

Status: (Introduced) 2024-05-02 - Added Co-Sponsor Rep. Sharon Chung [HB1241 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Margaret Croke [D]	Primary	Sponsored Bills	HD-012	FollowTheMoney	Ballotpedia	VoteSmart
Representative Norine Hammond [R]	Cosponsor	Sponsored Bills	HD-094	FollowTheMoney	Ballotpedia	VoteSmart
Representative Elizabeth Hernandez [D]	Cosponsor	Sponsored Bills	HD-002	FollowTheMoney	Ballotpedia	VoteSmart
Representative Natalie Manley [D]	Cosponsor	Sponsored Bills	HD-098	FollowTheMoney	Ballotpedia	VoteSmart
Representative Ryan Spain [R]	Cosponsor	Sponsored Bills	HD-073	FollowTheMoney	Ballotpedia	VoteSmart
Representative William Davis [D]	Cosponsor	Sponsored Bills	HD-030	FollowTheMoney	Ballotpedia	VoteSmart
Representative Joe Sosnowski [R]	Cosponsor	Sponsored Bills	HD-069	FollowTheMoney	Ballotpedia	VoteSmart
Representative Robert Rita [D]	Cosponsor	Sponsored Bills	HD-028	FollowTheMoney	Ballotpedia	VoteSmart
Representative Daniel Swanson [R]	Cosponsor	Sponsored Bills	HD-071	FollowTheMoney	Ballotpedia	VoteSmart
Representative Maurice West [D]	Cosponsor	Sponsored Bills	HD-067	FollowTheMoney	Ballotpedia	VoteSmart
Representative Travis Weaver [R]	Cosponsor	Sponsored Bills	HD-093	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dave Severin [R]	Cosponsor	Sponsored Bills	HD-116	FollowTheMoney	Ballotpedia	VoteSmart
Representative Edgar Gonzalez [D]	Cosponsor	Sponsored Bills	HD-023	FollowTheMoney	Ballotpedia	VoteSmart
Representative Gregg Johnson [D]	Cosponsor	Sponsored Bills	HD-072	FollowTheMoney	Ballotpedia	VoteSmart
Representative Joyce Mason [D]	Cosponsor	Sponsored Bills	HD-061	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mary Flowers [D]	Cosponsor	Sponsored Bills	HD-031	FollowTheMoney	Ballotpedia	VoteSmart
Representative Bob Morgan [D]	Cosponsor	Sponsored Bills	HD-058	FollowTheMoney	Ballotpedia	VoteSmart
Representative Nabeela Syed [D]	Cosponsor	Sponsored Bills	HD-051	FollowTheMoney	Ballotpedia	N/A
Representative William Hauter [R]	Cosponsor	Sponsored Bills	HD-087	FollowTheMoney	Ballotpedia	VoteSmart
Representative LaShawn Ford [D]	Cosponsor	Sponsored Bills	HD-008	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kevin Olickal [D]	Cosponsor	Sponsored Bills	HD-016	FollowTheMoney	Ballotpedia	VoteSmart
Representative Angelica Guerrero-Cuellar [D]	Cosponsor	Sponsored Bills	HD-022	N/A	Ballotpedia	VoteSmart
Representative Diane Blair-Sherlock [D]	Cosponsor	Sponsored Bills	HD-046	FollowTheMoney	Ballotpedia	VoteSmart
Representative Aaron Ortiz [D]	Cosponsor	Sponsored Bills	HD-001	FollowTheMoney	Ballotpedia	VoteSmart
Representative Matt Hanson [D]	Cosponsor	Sponsored Bills	HD-083	FollowTheMoney	Ballotpedia	VoteSmart
Representative Katie Stuart [D]	Cosponsor	Sponsored Bills	HD-112	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dagmara Avelar [D]	Cosponsor	Sponsored Bills	HD-085	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dave Vella [D]	Cosponsor	Sponsored Bills	HD-068	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anna Moeller [D]	Cosponsor	Sponsored Bills	HD-043	FollowTheMoney	Ballotpedia	VoteSmart
Representative Harry Benton [D]	Cosponsor	Sponsored Bills	HD-097	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jay Hoffman [D]	Cosponsor	Sponsored Bills	HD-113	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sharon Chung [D]	Cosponsor	Sponsored Bills	HD-091	FollowTheMoney	Ballotpedia	N/A

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