Illinois House Bill 3307 (Prior Session Legislation)

---

Spectrum: Bipartisan Bill
Status: Introduced on February 19 2021 - 25% progression, died in committee
Action: 2021-04-09 - Added Co-Sponsor Rep. Tony McCombie
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the investment made by the taxpayer during the taxable year in a Qualified Opportunity Fund. Provides that no such credit may be taken for any taxable year that begins prior to January 1, 2022. Provides that excess credits may be carried forward or back. Provides that the aggregate amount of the Qualified Opportunity Fund tax credit shall be limited to $10,000 per taxpayer per calendar year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

INC TX-OPPORTUNITY ZONES

Rep. Justin Slaughter [D]

Rep. Tony McCombie [R]

Date	Chamber	Action
2021-04-09	House	Added Co-Sponsor Rep. Tony McCombie
2021-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2021-03-16	House	Assigned to Revenue & Finance Committee
2021-02-19	House	Referred to Rules Committee
2021-02-19	House	First Reading
2021-02-19	House	Filed with the Clerk by Rep. Justin Slaughter

Chapter	Article	Section	Citation Type	Statute Text
35	5	232	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3307&GAID=16&DocTypeID=HB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/HB/10200HB3307.htm