Illinois General Assembly

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 Bill Status of HB0540  94th General Assembly


Short Description:  INC TX-RECYCLE ELECTRNCS-CREDT

House Sponsors
Rep. Naomi D. Jakobsson - Mike Boland - Karen May, Karen A. Yarbrough and Robin Kelly

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/216 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, beginning with taxable years ending on or after December 31, 2005, each taxpayer is entitled to an income tax credit in the amount of fees paid in the taxable year by the taxpayer to a recycler for the acceptance of any electronic equipment surrendered by the taxpayer. Provides that the tax credit may not reduce the taxpayer's liability to less than zero and may not be carried forward or back to apply to any other taxable year. Exempts the credit from the sunset provisions of the Act. Effective July 1, 2005.

Actions 
DateChamber Action
  1/27/2005HouseFiled with the Clerk by Rep. Naomi D. Jakobsson
  1/27/2005HouseChief Co-Sponsor Rep. Mike Boland
  1/27/2005HouseFirst Reading
  1/27/2005HouseReferred to Rules Committee
  2/2/2005HouseAssigned to Revenue Committee
  2/18/2005HouseAdded Chief Co-Sponsor Rep. Karen May
  3/2/2005HouseAdded Co-Sponsor Rep. Karen A. Yarbrough
  3/8/2005HouseAdded Co-Sponsor Rep. Robin Kelly
  3/10/2005HouseRule 19(a) / Re-referred to Rules Committee
  1/9/2007HouseSession Sine Die

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