Illinois House Bill 2754 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on February 20 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act and the Illinois Insurance Code. Provides that all or a portion of the income tax credit awarded for the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone may instead be taken as a credit against privilege and retaliatory taxes paid under the Illinois Insurance Code. Provides that the credit may be transferred within one year after the credit is awarded. Provides that the credit may be transferred only once. Provides that the credit may be carried forward. Provides that the credit sunsets on January 1, 2022 (currently, January 1, 2017). Effective immediately.

REVENUE-RIVER EDGE

Rep. Jehan Gordon-Booth [D]	Rep. Litesa Wallace [D]	Rep. Joe Sosnowski [R]	Rep. John Cabello [R]
Rep. Carol Sente [D]

Date	Chamber	Action
2015-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2015-03-26	House	Added Chief Co-Sponsor Rep. Carol Sente
2015-03-06	House	To Income Tax Subcommittee
2015-03-04	House	Added Chief Co-Sponsor Rep. John M. Cabello
2015-03-04	House	Added Chief Co-Sponsor Rep. Joe Sosnowski
2015-03-02	House	Assigned to Revenue & Finance Committee
2015-02-23	House	Added Chief Co-Sponsor Rep. Litesa E. Wallace
2015-02-20	House	Referred to Rules Committee
2015-02-20	House	First Reading
2015-02-20	House	Filed with the Clerk by Rep. Jehan Gordon-Booth

Chapter	Article	Section	Citation Type	Statute Text
215	5	409.1	New Code	See Bill Text
35	5	221	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2754&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB2754.htm