Creates the Illinois First-Time Homebuyer Savings Account Act. Provides that first-time homebuyers may open a first-time homebuyer savings account to pay or reimburse costs in connection with a qualified home purchase. Provides that the account holder shall not use any funds in a first-time homebuyer savings account to pay expenses of administering the account except for fees and charges assessed by the financial institution. Provides for reporting to the Department of Revenue. Defines terms. Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an annual credit for amounts deposited by the taxpayer into a first-time homebuyer savings account of up to $2,000 for individual taxpayers, and up to $4,000 for married taxpayers. Provides a maximum lifetime credit of 10 times the taxpayer's annual maximum deduction. Provides that beginning January 1, 2020, the Department shall adjust, every year, the maximum tax credits available to a first-time homebuyer savings account holder for inflation.
Rep. Tony McCombie
Sponsored bills
Creates the Manufacturing Job Destination Tax Credit Act and amends the Illinois Income Tax Act. Provides for a credit of 25% of the Illinois labor expenditures made by a manufacturing company in order to foster job creation and retention in Illinois. Authorizes the Department of Revenue to award a tax credit to taxpayer-employers who apply for the credit and meet the certain Illinois labor, job training, and apprenticeship requirements. Sets minimum requirements and procedures for certifying a taxpayer as an "accredited manufacturer" and for awarding the credit. Effective January 1, 2019.
Amends the Public Utilities Act. Provides that no public utility shall begin the construction of any nuclear power plant extension, alteration, or addition unless and until it has obtained from the Illinois Commerce Commission a certificate that public convenience and necessity require such construction. Removes a provision that prohibits the issuance of a certificate of public convenience and necessity by the Commission regarding the construction of any new power plant within this State until the Director of the Illinois Environmental Protection Agency finds that the United States Government has identified and approved a demonstrable technology or means for the disposal of high level nuclear waste, or until such construction has been specifically approved by a statute enacted by the General Assembly. Effective immediately.
Amends the Auction License Act, the Community Association Manager Licensing and Disciplinary Act, the Real Estate License Act of 2000, and the Real Estate Appraiser Licensing Act of 2002. Makes changes to the terms for members of the Auction Advisory Board, the Community Association Manager Licensing and Disciplinary Board, the Real Estate Administration and Disciplinary Board, and the Real Estate Appraisal Administration and Disciplinary Board. Provides that the members' terms shall be for 4 years and the term expires upon completion of the term. Provides that members of the Community Association Manager Licensing and Disciplinary Board that are serving on the Board on the effective date of the amendatory Act may serve the remainder of their unexpired terms. Provides that no member of the Real Estate Administration and Disciplinary Board shall be reappointed to the Board for a term that would cause his or her cumulative service to the Board to exceed 10 years (rather than 12 years). Makes changes to the appointment process for vacancies on the Auction Advisory Board, the Community Association Manager Licensing and Disciplinary Board, and the Real Estate Appraisal Administration and Disciplinary Board. Effective immediately.
Amends the Property Tax Code. Provides that the income limitation for the Senior Citizens Assessment Freeze Homestead Exemption is: (1) $55,000 in taxable years 2008 through 2016; (2) $60,000 in taxable years 2017 through 2020; and (3) $65,000 in taxable year 2021 and thereafter (currently, $55,000 for taxable year 2008 and thereafter). Effective immediately.
Amends the Public Utilities Act. Provides that no public utility shall begin the construction of any nuclear power plant extension, alteration, or addition unless and until it has obtained from the Illinois Commerce Commission a certificate that public convenience and necessity require such construction. Removes a provision that prohibits the issuance of a certificate of public convenience and necessity by the Commission regarding the construction of any new power plant within this State until the Director of the Illinois Environmental Protection Agency finds that the United States Government has identified and approved a demonstrable technology or means for the disposal of high level nuclear waste, or until such construction has been specifically approved by a statute enacted by the General Assembly. Effective immediately.
Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Makes a technical change in a Section concerning the Department of Revenue.
Appropriates $442,403 from the Snowmobile Trail Establishment Fund to the Department of Natural Resources for the administration and payment of grants to nonprofit snowmobile clubs and organizations for construction, maintenance, and rehabilitation of snowmobile trails and areas for the use of snowmobiles. Effective immediately.
Amends the State Finance Act, the Motor Fuel Tax Law, the Emergency Telephone System Act, the Riverboat Gambling Act, and the Video Gaming Act. Provides that, in the absence of an appropriation for any State fiscal year, moneys that are required to be distributed to units of local government and other entities from the State and Local Sales Tax Reform Fund, the Motor Fuel Tax Fund, the State Gaming Fund, the Local Government Video Gaming Distributive Fund, and the Statewide 9-1-1 Fund are subject to a continuing appropriation. Effective immediately.
Amends the Fish and Aquatic Life Code. Provides that all properly licensed individuals shall be permitted to take, in any one day, no more than one flathead catfish under 35 inches in length within the waters of Rock River. Provides that a flathead catfish in possession of an individual from Rock River that is over 35 inches in length shall be released immediately. Provides that all properly licensed individuals shall be permitted to take, in any one day, no more than 6 channel catfish under 30 inches in length within the waters of Rock River. Provides that a channel catfish in possession of an individual from Rock River that is over 30 inches in length shall be released immediately.