Bill Text: IL SB0398 | 2011-2012 | 97th General Assembly | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning court costs.

Spectrum: Slight Partisan Bill (Democrat 13-7)

Status: (Passed) 2011-05-06 - Public Act . . . . . . . . . 97-0003 [SB0398 Detail]

Download: Illinois-2011-SB0398-Engrossed.html

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SB0398 Engrossed LRB097 04210 HLH 44249 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. If and only if Senate Bill 4 of the 97th General
Assembly, as amended by House Amendment 3, becomes law, then
the Film Production Services Tax Credit Act of 2008 is amended
by changing Section 42 as follows:
(35 ILCS 16/42)
Sec. 42. Sunset of credits. The application of credits
awarded pursuant to this Act shall be limited by a reasonable
and appropriate sunset date. A taxpayer shall not be entitled
to take a credit awarded pursuant to this Act for tax years
beginning on or after 10 5 years after the effective date of
this amendatory Act of the 97th General Assembly. After the
initial 10-year sunset, the General Assembly may extend the
sunset date by 5-year intervals.
(Source: 09700SB0004ham003.)
Section 99. Effective date. This Act takes effect upon
becoming law, but no earlier than the effective date of Senate
Bill 4 of the 97th General Assembly.