Bill Text: IL SB0047 | 2017-2018 | 100th General Assembly | Engrossed
Bill Title: Amends the Property Tax Code. Makes a technical change in a Section concerning the Property Tax Appeal Board.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Failed) 2019-01-09 - Session Sine Die [SB0047 Detail]
Download: Illinois-2017-SB0047-Engrossed.html
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| 1 | AN ACT concerning revenue.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Film
Production Services Tax Credit Act of | ||||||
| 5 | 2008 is amended by changing Section 42 as follows:
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| 6 | (35 ILCS 16/42) | ||||||
| 7 | Sec. 42. Sunset of credits. The application of credits | ||||||
| 8 | awarded pursuant to this Act shall be limited by a reasonable | ||||||
| 9 | and appropriate sunset date. A taxpayer shall not be entitled | ||||||
| 10 | to take a credit awarded pursuant to this Act for tax years | ||||||
| 11 | beginning on or after January 1, 2027. 10 years after the | ||||||
| 12 | effective date of this amendatory Act of the 97th General | ||||||
| 13 | Assembly. After the initial 10-year sunset, the General | ||||||
| 14 | Assembly may extend the sunset date by 5-year intervals.
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