Bill Text: IL HB5510 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act. Extends the date after which the Department shall not enter into new Agreements under certain provisions of the Act until June 30, 2027 (currently, June 30, 2022). Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB5510 Detail]
Download: Illinois-2021-HB5510-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Economic Development for a Growing Economy | |||||||||||||||||||
5 | Tax Credit Act is amended by changing Section 5-77 as follows:
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6 | (35 ILCS 10/5-77) | |||||||||||||||||||
7 | Sec. 5-77. Sunset of new Agreements. The Department shall | |||||||||||||||||||
8 | not enter into any new Agreements under the provisions of | |||||||||||||||||||
9 | Section 5-50 of this Act after June 30, 2027 2022 .
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10 | (Source: P.A. 99-925, eff. 1-20-17; 100-511, eff. 9-18-17.)
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11 | Section 99. Effective date. This Act takes effect upon | |||||||||||||||||||
12 | becoming law.
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