INC TAX-EDGE CREDIT-EXTEND
Summary
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the duration of the credit may not exceed 15 (now, 10) taxable years. In provisions setting forth requirements for applicants for the credit, provides that for projects determined to be eligible because they meet the investment and new employee criteria established by the Department of Commerce and Economic Opportunity, the Department shall approve those that will provide a return on the State's investment. Amends the Illinois Income Tax Act to make the commensurate change extending the duration of the credit to 15 years. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2005
Committee Review
Floor Vote
Governor
Introduced Feb 18, 2005
Last action Mar 16, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
10
Key actions
0
Committee
2
Feb 18, 2005
House · Introduced
Motion Filed Rep. William B. Black; Table House Bill 554 Pursuant to Rule 60(b)
Feb 2, 2005
House · Referred to committee
Assigned to Revenue Committee
Jan 27, 2005
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
William B. Black
RRepublican
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