Bill Text: IL HB5510 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act. Extends the date after which the Department shall not enter into new Agreements under certain provisions of the Act until June 30, 2027 (currently, June 30, 2022). Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB5510 Detail]

Download: Illinois-2021-HB5510-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB5510 Introduced , by Rep. Mark L. Walker SYNOPSIS AS INTRODUCED:
35 ILCS 10/5-77
Amends the Economic Development for a Growing Economy Tax Credit Act. Extends the date after which the Department shall not enter into new Agreements under certain provisions of the Act until June 30, 2027 (currently, June 30, 2022). Effective immediately.
LRB102 25838 HLH 35186 b
A BILL FOR
HB5510 LRB102 25838 HLH 35186 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Economic Development for a Growing Economy
Tax Credit Act is amended by changing Section 5-77 as follows:
(35 ILCS 10/5-77)
Sec. 5-77. Sunset of new Agreements. The Department shall
not enter into any new Agreements under the provisions of
Section 5-50 of this Act after June 30, 2027 2022.
(Source: P.A. 99-925, eff. 1-20-17; 100-511, eff. 9-18-17.)
Section 99. Effective date. This Act takes effect upon
becoming law.