Bill Title: Amends the Property Tax Code. Provides that a taxing district may grant an abatement for property that contains an expanded business facility. Defines "expanded business facility" to include a requirement that the business must create a certain number of new employment positions at the facility. Contains provisions allowing for an enhanced abatement for certain facilities. Amends the Illinois Income Tax Act to create a credit equal to a percentage of the remaining tax liability for the property. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3685 Detail]

Text: Latest bill text (Introduced) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Litesa Wallace [D]	Primary	Sponsored Bills	HD-067	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL HB3685