Bill Title: Creates the Endow Illinois Tax Credit Act. Creates an income tax credit for taxpayers who provide an endowment gift to a permanent endowment fund. Provides that the amount of the credit is an amount equal to 50% of the endowment gift. Sets forth the aggregate amount of the credit. Provides that the Department of Revenue shall administer the credit. Provides that the Department of Revenue shall submit an annual report to the Governor and the General Assembly concerning the activities conducted under the Act during the previous calendar year. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 10-4)

Status: (Introduced - Dead) 2023-01-09 - Added Co-Sponsor Rep. William Davis [HB5817 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2022-10-05	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5817

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5817 currently on file.

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