Bill Title: 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.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2021-04-09 - Added Co-Sponsor Rep. Tony McCombie [HB3307 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Justin Slaughter [D]	Primary	Sponsored Bills	HD-027	FollowTheMoney	Ballotpedia	VoteSmart
Representative Tony McCombie [R]	Cosponsor	Sponsored Bills	HD-089	FollowTheMoney	Ballotpedia	VoteSmart

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