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SB 1448 Illinois Senate · 98th Regular Session

ENDOW ILLINOIS TAX CREDIT ACT

Summary
Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize may not exceed $10,000,000 in 2013, $25,000,000 in 2014, or $50,000,000 in 2015 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately.
Bill status failed 4 of 5 stages cleared
Introduction
May 2013
Committee Review
Jan 2014
Senate Passage
May 2013
House Passage
Nov 2013
Governor
Introduced May 23, 2013 Last action Jan 13, 2015
Floor votes · Senate May 22, 2013 · House Nov 6, 2013

How they voted

37–4
Passed · 6 other
Total votes 47
May 22, 2013
D Democratic30
26 Yea 1 Nay 3
86% Yea
R Republican17
11 Yea 3 Nay 3
64% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
102
Key actions
10
Committee
13
Amendments
15
Jan 3, 2014
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Nov 6, 2013
Introduced
Placed on Calendar Order of Concurrence House Amendment(s) 2 - November 7, 2013
upper
Nov 6, 2013
Introduced
Secretary's Desk - Concurrence House Amendment(s) 2
upper
Nov 6, 2013
Committee
House Floor Amendment No. 3 Referred to Rules Committee
lower
Nov 6, 2013
Introduced
House Floor Amendment No. 3 Filed with Clerk by Rep. Jeanne M Ives
lower
Nov 6, 2013
House · Passed
House Vote: pass (74-21-4)
house
Nov 5, 2013
Amended
House Committee Amendment No. 1 Tabled Pursuant to Rule 40
lower
Nov 5, 2013
Lower · Passed
Do Pass as Amended / Short Debate Revenue & Finance Committee; 008-000-000
lower
Nov 5, 2013
Lower · Passed
House Committee Amendment No. 2 Adopted in Revenue & Finance Committee; by Voice Vote
lower
Nov 5, 2013
Lower · Passed
House Committee Amendment No. 2 Rules Refers to Revenue & Finance Committee
lower
Nov 4, 2013
Committee
House Committee Amendment No. 2 Referred to Rules Committee
lower
Nov 4, 2013
Introduced
House Committee Amendment No. 2 Filed with Clerk by Rep. Michael J. Zalewski
lower
Oct 30, 2013
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
lower
Oct 30, 2013
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Oct 30, 2013
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski
lower
Oct 16, 2013
Committee
Assigned to Revenue & Finance Committee
lower
May 23, 2013
Committee
Referred to Rules Committee
lower
May 23, 2013
Introduced
Arrived in House
lower
May 22, 2013
Upper · Passed
Senate Floor Amendment No. 2 Adopted; Muñoz
upper
May 22, 2013
Senate · Passed
Senate Vote: pass (37-4-6)
senate
May 16, 2013
Introduced
Senate Floor Amendment No. 2 Recommend Do Adopt Revenue; 008-002-000
upper
Apr 24, 2013
Introduced
Senate Floor Amendment No. 2 Postponed - Revenue
upper
Apr 17, 2013
Introduced
Senate Floor Amendment No. 2 Postponed - Revenue
upper
Apr 17, 2013
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Revenue
upper
Apr 11, 2013
Committee
Senate Floor Amendment No. 2 Referred to Assignments
upper
Apr 11, 2013
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Antonio Muñoz
upper
Mar 20, 2013
Upper · Passed
Do Pass as Amended Revenue; 007-003-001
upper
Mar 20, 2013
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
Mar 19, 2013
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Revenue
upper
Mar 15, 2013
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Mar 15, 2013
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Antonio Muñoz
upper
0 primary · 16 co-sponsors

Sponsors

No sponsor information available.