IL HB2744 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Bipartisan Bill
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Business and Employment Development Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may certify a business as eligible for an income tax credit under the Act and may award credits to certified businesses. Sets forth the amount of the credit, which is calculated as a percentage of the wages paid to new or retained full-time and part-time employees. Provides that the duration of the credit is 5 taxable years, except that the credit may be carried forward for 5 years. Contains provisions concerning recapture of the credit. Amends the Illinois Income Tax Act to make conforming changes. Provides that the Business and Employment Development Tax Credit is exempt from the Act's automatic sunset provision. Effective immediately.
Title
INC TX-BUSINESS DEVELOPMENT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-01-08 | House | Session Sine Die |
2017-03-31 | House | Rule 19(a) / Re-referred to Rules Committee |
2017-03-29 | House | Added Chief Co-Sponsor Rep. Keith R. Wheeler |
2017-03-09 | House | To Growth, Reform & Fairness Subcommittee |
2017-02-22 | House | Assigned to Revenue & Finance Committee |
2017-02-08 | House | Referred to Rules Committee |
2017-02-08 | House | First Reading |
2017-02-08 | House | Filed with the Clerk by Rep. Michael J. Zalewski |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2744&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/HB/10000HB2744.htm |