Illinois Senate Bill 1935 (Prior Session Legislation)

---

Spectrum: Slight Partisan Bill (Democrat 5-3)
Status: Introduced on February 20 2009 - 25% progression, died in chamber
Action: 2009-04-03 - Rule 2-10 Third Reading Deadline Established As April 30, 2009
Text: Latest bill text (Introduced) [HTML]

Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Commerce and Economic Opportunity to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize in any calendar year may not exceed $50,000,000. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately.

ENDOWMENT DONATION CREDIT

Sen. Pamela Althoff [R]	Sen. William Delgado [D]	Sen. Kirk Dillard [R]	Sen. Michael Frerichs [D]
Sen. Chris Lauzen [R]	Sen. Kimberly Lightford [D]	Sen. John Sullivan [D]	Sen. Arthur Wilhelmi [D]

Date	Chamber	Action
2009-04-03		Rule 2-10 Third Reading Deadline Established As April 30, 2009
2009-03-26		Added as Co-Sponsor Sen. Chris Lauzen
2009-03-13		Rule 3-9(a) / Re-referred to Assignments
2009-03-13		Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2009-03-12		To Revenue Subcommittee on Special Issues
2009-03-12		Added as Co-Sponsor Sen. John M. Sullivan
2009-03-11		Added as Co-Sponsor Sen. Michael W. Frerichs
2009-03-10		Senate Committee Amendment No. 1 Assignments Refers to Revenue
2009-03-06		Added as Chief Co-Sponsor Sen. Kimberly A. Lightford
2009-03-06		Senate Committee Amendment No. 1 Referred to Assignments
2009-03-06		Senate Committee Amendment No. 1 Filed with Secretary by Sen. A. J. Wilhelmi
2009-03-05		Added as Co-Sponsor Sen. William Delgado
2009-03-04		Assigned to Revenue
2009-02-27		Added as Chief Co-Sponsor Sen. Pamela J. Althoff
2009-02-23		Added as Chief Co-Sponsor Sen. Kirk W. Dillard
2009-02-20		Referred to Assignments
2009-02-20		First Reading
2009-02-20		Filed with Secretary by Sen. A. J. Wilhelmi

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1935&GAID=10&DocTypeID=SB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/SB/09600SB1935.htm