Bill Amendment: IL SB1595 | 2019-2020 | 101st General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: FILM TAX CREDIT-PERMANENT
Status: 2019-08-01 - Public Act . . . . . . . . . 101-0178 [SB1595 Detail]
Download: Illinois-2019-SB1595-Senate_Amendment_001.html
Bill Title: FILM TAX CREDIT-PERMANENT
Status: 2019-08-01 - Public Act . . . . . . . . . 101-0178 [SB1595 Detail]
Download: Illinois-2019-SB1595-Senate_Amendment_001.html
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1 | AMENDMENT TO SENATE BILL 1595
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2 | AMENDMENT NO. ______. Amend Senate Bill 1595 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Film
Production Services Tax Credit Act of | ||||||
5 | 2008 is amended by changing Section 42 as follows:
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6 | (35 ILCS 16/42) | ||||||
7 | Sec. 42. Sunset of credits. This Act is exempt from the | ||||||
8 | provisions of Section 250 of the Illinois Income Tax Act. The | ||||||
9 | application of credits awarded pursuant to this Act shall be | ||||||
10 | limited by a reasonable and appropriate sunset date. A taxpayer | ||||||
11 | shall not be entitled to take a credit awarded pursuant to this | ||||||
12 | Act for tax years beginning on or after 10 years after the | ||||||
13 | effective date of this amendatory Act of the 97th General | ||||||
14 | Assembly. After the initial 10-year sunset, the General | ||||||
15 | Assembly may extend the sunset date by 5-year intervals.
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16 | (Source: P.A. 97-2, eff. 5-6-11; 97-3, eff. 5-6-11.)
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1 | Section 99. Effective date. This Act takes effect upon | ||||||
2 | becoming law.".
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