Bill Text: IL HB2781 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the Illinois Income Tax Act. Creates a credit for freight forwarders in an amount equal to $0.50 per chargeable kilo shipped by that freight forwarder from an airport in this State during the taxable year. Defines "freight forwarder" as a taxpayer that assumes responsibility in the ordinary course of its business for the transportation of cargo from the place of receipt to the place of destination, including the use of direct international flights. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2014-12-03 - Session Sine Die [HB2781 Detail]
Download: Illinois-2013-HB2781-Amended.html
| |||||||
| |||||||
| |||||||
1 | AMENDMENT TO HOUSE BILL 2781
| ||||||
2 | AMENDMENT NO. ______. Amend House Bill 2781 by replacing | ||||||
3 | everything after the enacting clause with the following:
| ||||||
4 | "Section 5. The Illinois Income Tax Act is amended by | ||||||
5 | adding Section 224 as follows:
| ||||||
6 | (35 ILCS 5/224 new) | ||||||
7 | Sec. 224. Illinois export incentive credit. | ||||||
8 | (a) Subject to the limitations set forth in this Section, | ||||||
9 | for taxable years beginning on or after January 1, 2014, each | ||||||
10 | freight forwarder is entitled to a credit against the tax | ||||||
11 | imposed by subsections (a) and (b) of Section 201 in an amount | ||||||
12 | equal to (i) $0.15 per chargeable kilo shipped by that freight | ||||||
13 | forwarder from an airport in this State during the taxable year | ||||||
14 | if the freight forwarder ships under 40 tons per week, or (ii) | ||||||
15 | $0.20 per chargeable kilo shipped by that freight forwarder | ||||||
16 | from an airport in this State during the taxable year if the |
| |||||||
| |||||||
1 | freight forwarder ships 40 or more tons per week. | ||||||
2 | (b)Subject to the limitations set forth in this Section, | ||||||
3 | for taxable years beginning on or after January 1, 2014, each | ||||||
4 | air cargo shipper is entitled to a credit against the tax | ||||||
5 | imposed by subsections (a) and (b) of Section 201 in an amount | ||||||
6 | equal to $0.20 per per chargeable kilo shipped by that shipper | ||||||
7 | from an airport in this State during the taxable year. | ||||||
8 | (c)Subject to the limitations set forth in this Section, | ||||||
9 | for taxable years beginning on or after January 1, 2014, each | ||||||
10 | airline is entitled to a credit against the tax imposed by | ||||||
11 | subsections (a) and (b) of Section 201 in an amount equal to | ||||||
12 | $0.10 per chargeable kilo shipped by that airline from an | ||||||
13 | airport in this State during the taxable year. | ||||||
14 | (d) To receive credits under this Section, the freight | ||||||
15 | forwarder, air cargo shipper, or airline shall file an | ||||||
16 | application with the Department within 120 calendar days after | ||||||
17 | the date of shipment. The freight forwarder shall include with | ||||||
18 | the application the master airway bill for the shipment for | ||||||
19 | which the freight forwarder, air cargo shipper, or airline is | ||||||
20 | seeking credit under this Section. | ||||||
21 | (e) Credits awarded under this Section may not reduce the | ||||||
22 | taxpayer's liability to less than
zero. If the amount of the | ||||||
23 | tax credit exceeds the tax liability for the year,
the excess | ||||||
24 | may be carried forward and applied to the tax liability of the | ||||||
25 | 5
taxable years following the excess credit year. The credit | ||||||
26 | must be applied to
the earliest year for which there is a tax |
| |||||||
| |||||||
1 | liability. If there are credits
from more than one tax year | ||||||
2 | that are available to offset a liability, then the
earlier | ||||||
3 | credit must be applied first. | ||||||
4 | (f) As used in this Section: | ||||||
5 | "Airline" means a company that owns a system furnishing | ||||||
6 | air transport. | ||||||
7 | "Air Cargo Shipper" means the owner of any goods who | ||||||
8 | chooses to ship them by air transport. | ||||||
9 | "Chargeable kilo" means a kilo of freight that is | ||||||
10 | shipped on a qualifying outbound flight, as measured by the | ||||||
11 | greater of: | ||||||
12 | (1) actual weight; or | ||||||
13 | (2) dimensional weight, as determined by the | ||||||
14 | conversion factors promulgated by the International | ||||||
15 | Air Transport Association. | ||||||
16 | "Direct international aircraft flight" means a single | ||||||
17 | transoceanic flight that operates to an international | ||||||
18 | destination in accordance with the operator's bilateral | ||||||
19 | route authority. | ||||||
20 | "Freight forwarder" means a taxpayer that assumes | ||||||
21 | responsibility in the ordinary course of its business for | ||||||
22 | the transportation of cargo from the place of receipt to | ||||||
23 | the place of destination, including the use of a qualifying | ||||||
24 | outbound flight. | ||||||
25 | "Qualifying outbound flight" means a direct | ||||||
26 | international aircraft flight that carries either all |
| |||||||
| |||||||
1 | cargo or a mix of passengers and cargo from an airport in | ||||||
2 | this State to an international destination. | ||||||
3 | (g) This Section is exempt from the provisions of Section | ||||||
4 | 250.
| ||||||
5 | Section 99. Effective date. This Act takes effect upon | ||||||
6 | becoming law.".
|