Creates the Illinois State Property Revitalization Tax Credit Act. Creates a credit against taxes imposed under the Illinois Income Tax Act and the Illinois Insurance Code in an amount equal to 30% of qualified expenditures incurred by a qualified taxpayer in the rehabilitation of certain property that had been owned by the State. Provides that credits must be approved by the Department of Commerce and Economic Opportunity. Provides that credits may be transferred and assigned. Contains provisions concerning application fees. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Amends the State Property Control Act. Makes changes to provisions concerning surplus real property. Effective immediately.
Sen. Steve McClure
Sponsored bills
Declares March 27, 2019 as Elderly Women of Wisdom Day in Illinois to honor all women residing in skilled nursing facilities for their lifelong service to their families and communities.
Mourns the death of Captain Jake Ringering of Godfrey.
Amends the Township Code. Adds an Article that allows for discontinuance of Capital Township in Sangamon County. Provides petition and referendum requirements to discontinue the township. Provides that if the referendum for discontinuance is approved, the township is discontinued on the third Monday in May in the year of the consolidated election in which the township officials are elected next following the approval of the referendum. Provides for the transfer to Sangamon County of powers, duties, records, and property of the discontinued township. Makes conforming changes in the Property Tax Code and the Illinois Public Aid Code. Effective immediately.
Creates the Targeted Tax Credit Act. Contains only a short title provision.
Amends the University - Building Authority Leased Lands Act. Makes a technical change in a Section concerning buildings and other facilities on leased land.
Amends the Criminal Code of 2012. Makes a technical change in a Section concerning the short title.