Illinois General Assembly - Bill Status for HB5953

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Bill Status of HB5953 100th General Assembly

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Short Description: INC TX-OPPORTUNITY ZONES

House Sponsors
Rep. David McSweeney

Last Action

Date	Chamber	Action
1/8/2019	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/228 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the investment made by the taxpayer during the taxable year in a Qualified Opportunity Fund. Provides that no such credit may be taken for any taxable year that begins prior to January 1, 2020. Provides that excess credits may be carried forward or back. Provides that the aggregate amount of the Qualified Opportunity Fund tax credit shall be limited to $100,000,000 per calendar year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Actions

Date	Chamber	Action
9/5/2018	House	Filed with the Clerk by Rep. David McSweeney
11/7/2018	House	First Reading
11/7/2018	House	Referred to Rules Committee
1/8/2019	House	Session Sine Die

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