IL SB1809 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 9 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the recipient of a credit under the Act may apply for a certificate of transferability of credit from the Department of Commerce and Economic Opportunity for the amount of the credit not previously claimed. Provides that the transferability certificate may be transferred or sold by the recipient to another Illinois taxpayer. Provides that unused Economic Development for a Growing Economy tax credits may be carried forward for a period of 10 years (currently, 5 years). Makes other changes.
Title
EDGE-TRANSFER CREDIT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2023-02-21 | Senate | Assigned to Revenue |
2023-02-09 | Senate | Referred to Assignments |
2023-02-09 | Senate | First Reading |
2023-02-09 | Senate | Filed with Secretary by Sen. Sally J. Turner |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 10 | 5-45 | Amended Code | Citation Text |
35 | 5 | 211 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1809&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
Text | https://www.ilga.gov/legislation/103/SB/10300SB1809.htm |