Bill Text: IL SB0398 | 2011-2012 | 97th General Assembly | Chaptered
Bill Title: Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning court costs.
Spectrum: Slight Partisan Bill (Democrat 13-7)
Status: (Passed) 2011-05-06 - Public Act . . . . . . . . . 97-0003 [SB0398 Detail]
Download: Illinois-2011-SB0398-Chaptered.html
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Public Act 097-0003 | ||||
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AN ACT concerning revenue.
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Be it enacted by the People of the State of Illinois, | ||||
represented in the General Assembly:
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Section 5. If and only if Senate Bill 4 of the 97th General | ||||
Assembly, as amended by House Amendment 3, becomes law, then | ||||
the Film Production Services Tax Credit Act of 2008 is amended | ||||
by changing Section 42 as follows:
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(35 ILCS 16/42) | ||||
Sec. 42. Sunset of credits. The application of credits | ||||
awarded pursuant to this Act shall be limited by a reasonable | ||||
and appropriate sunset date. A taxpayer shall not be entitled | ||||
to take a credit awarded pursuant to this Act for tax years | ||||
beginning on or after 10 5 years after the effective date of | ||||
this amendatory Act of the 97th General Assembly. After the | ||||
initial 10-year sunset, the General Assembly may extend the | ||||
sunset date by 5-year intervals.
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(Source: 09700SB0004ham003.)
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Section 99. Effective date. This Act takes effect upon | ||||
becoming law, but no earlier than the effective date of Senate | ||||
Bill 4 of the 97th General Assembly.
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