Bill Title: Amends the Illinois Income Tax Act. Provides that a deduction for contributions to a qualified ABLE account applies for taxable years beginning prior to January 1, 2028 (currently, January 1, 2023). Creates a deduction for amounts that are included in the taxpayer's federal adjusted gross income as discharge of indebtedness attributable to student loan forgiveness. Amends the Live Theater Production Tax Credit Act. Provides that, for State Fiscal Year 2023, "accredited theater production" also includes any commercial Broadway touring show. Provides that the amount of tax credits awarded pursuant to the Act for the State fiscal year ending on June 30, 2023 shall not exceed $4,000,000 (currently, $2,000,000). Provides that, for the State fiscal year ending on June 30, 2023, no more than $2,000,000 in credits may be awarded to accredited theater productions that are not commercial Broadway touring shows, and no more than $2,000,000 in credits may be awarded to commercial Broadway touring shows. Provides that commercial Broadway touring shows are not required to show that the applicant's accredited theater production would not occur in Illinois without the credit. Amends the Property Tax Code. Provides that, in Cook County, the estimated first installment of unpaid taxes for tax year 2022 shall be deemed delinquent after March 1, 2023 and shall bear interest after April 1, 2023 at the rate of 1.5% per month or portion thereof until paid or forfeited. Effective immediately.

Spectrum: Partisan Bill (Democrat 9-0)

Status: (Passed) 2022-12-21 - Public Act . . . . . . . . . 102-1112 [HB5189 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
House	Concurrence in House	2022-12-01	84	9	15	0	108	Passed	Link	View
House	Concurrence in House	2022-12-01	84	9	15	0	108	Passed	Link	View
House	Concurrence in House	2022-12-01	84	9	15	0	108	Passed	Link	View
Senate	Third Reading in Senate	2022-11-30	49	5	5	0	59	Passed	Link	View
House	Third Reading in House	2022-03-03	106	0	2	2	110	Passed	Link	View

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