Illinois General Assembly - Bill Status for HB5805
Illinois General Assembly

Previous General Assemblies

 Bill Status of HB5805  100th General Assembly


Short Description:  INC TX-CAPITAL GAINS CREDIT

House Sponsors
Rep. Dwight Kay - Jason Barickman - Mike Bost

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/223 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit equal to 50% of the taxpayer's qualified investments in a qualified business during the taxable year. Defines "qualified investments" and "qualified business". Provides that any credit not usable for the taxable year may be carried over for the next 15 succeeding taxable years. Provides that the amount of tax credit available for a calendar year shall be $5,000,000.

Actions 
DateChamber Action
  2/16/2012HouseFiled with the Clerk by Rep. Dwight Kay
  2/16/2012HouseFirst Reading
  2/16/2012HouseReferred to Rules Committee
  2/28/2012HouseAdded Chief Co-Sponsor Rep. Jason Barickman
  2/28/2012HouseAdded Chief Co-Sponsor Rep. Mike Bost
  1/8/2013HouseSession Sine Die

Back To Top