PROP TX-INC TX-BUSINESS CREDIT
Summary
Amends the Property Tax Code. Provides that a taxing district may grant an abatement for property that contains an expanded business facility. Defines "expanded business facility" to include a requirement that the business must create a certain number of new employment positions at the facility. Contains provisions allowing for an enhanced abatement for certain facilities. Amends the Illinois Income Tax Act to create a credit equal to a percentage of the remaining tax liability for the property. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2015
Committee Review
Floor Vote
Governor
Introduced Feb 26, 2015
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
4
Jan 10, 2017
House · Failed
Session Sine Die
Mar 27, 2015
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Mar 13, 2015
House · Reported by committee
To Property Tax Subcommittee
Mar 10, 2015
House · Referred to committee
Assigned to Revenue & Finance Committee
Feb 26, 2015
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Litesa E. Wallace
DDemocratic
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