INC TX-CREDITS

Amends the Illinois Income Tax Act. Provides that no corporate entity may claim an income tax credit, deduction, or exemption that is created by an Act of the General Assembly that first takes effect on or after the effective date of this amendatory Act of the 98th General Assembly. Provides that no credit, deduction, or exemption that is available to corporate entities on the effective date of this amendatory Act of the 98th General Assembly may be expanded by an Act of the General Assembly or by a rule adopted by a State agency. Creates a Corporate Tax Incentive Accountability Commission. Effective immediately.