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SB 2977 Illinois Senate · 98th Regular Session

RIVER EDGE TAX CREDIT

Summary
Amends the Illinois Income Tax Act. Provides that taxpayers are entitled to an income tax credit against the taxes imposed under the River Edge Redevelopment Zone Act equal to 100% of the reasonable and prudent costs incurred by a public utility. Provides that any amount of credit that exceeds a taxpayer's liabilities shall be refunded to the taxpayer. Amends the River Edge Redevelopment Zone Act. Restricts the amount of costs recovered by a public utility from retail customers to $5,000,000. Provides for a repeal date of July 1, 2020 (currently, July 29, 2017).
Bill status failed 1 of 4 stages cleared
Introduction
Feb 2014
Committee Review
Floor Vote
Governor
Introduced Feb 4, 2014 Last action Jan 13, 2015
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
27
Key actions
9
Committee
18
Amendments
3
Mar 28, 2014
Committee
Senate Committee Amendment No. 3 Rule 3-9(a) / Re-referred to Assignments
upper
Mar 28, 2014
Committee
Senate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments
upper
Mar 28, 2014
Committee
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
upper
Mar 28, 2014
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Mar 27, 2014
Upper · Passed
Senate Committee Amendment No. 3 Postponed - Revenue
upper
Mar 27, 2014
Upper · Passed
Senate Committee Amendment No. 2 Postponed - Revenue
upper
Mar 27, 2014
Upper · Passed
Senate Committee Amendment No. 1 Postponed - Revenue
upper
Mar 21, 2014
Upper · Passed
Senate Committee Amendment No. 3 Postponed - Revenue
upper
Mar 21, 2014
Upper · Passed
Senate Committee Amendment No. 2 Postponed - Revenue
upper
Mar 21, 2014
Upper · Passed
Senate Committee Amendment No. 1 Postponed - Revenue
upper
Mar 20, 2014
Upper · Passed
Senate Committee Amendment No. 3 Assignments Refers to Revenue
upper
Mar 20, 2014
Committee
Senate Committee Amendment No. 3 Referred to Assignments
upper
Mar 20, 2014
Introduced
Senate Committee Amendment No. 3 Filed with Secretary by Sen. Linda Holmes
upper
Mar 5, 2014
Upper · Passed
Senate Committee Amendment No. 2 Assignments Refers to Revenue
upper
Mar 4, 2014
Committee
Senate Committee Amendment No. 2 Referred to Assignments
upper
Mar 4, 2014
Introduced
Senate Committee Amendment No. 2 Filed with Secretary by Sen. Linda Holmes
upper
Feb 26, 2014
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Revenue
upper
Feb 25, 2014
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Feb 25, 2014
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Linda Holmes
upper
Feb 19, 2014
Committee
Assigned to Revenue
upper
Feb 4, 2014
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.