Illinois General Assembly - Bill Status for HB5543

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, beginning with taxable years ending on or after December 31, 2012 and ending with taxable years ending on or before December 31, 2017, an amount equal to 50% of the amount of expenses incurred by the taxpayer during a taxable year for the construction of a greenhouse or rehabilitation of a current facility to be used for greenhouse purposes may be deducted from the taxpayer's adjusted gross income. Provides that the taxpayer may elect to deduct 25% of the amount of these expenses in the taxable year in which they were incurred and to deduct the remaining 25% of the amount of these expenses in the next taxable year.

Actions

Date	Chamber	Action
2/14/2012	House	Filed with the Clerk by Rep. John D. Cavaletto
2/15/2012	House	First Reading
2/15/2012	House	Referred to Rules Committee
2/24/2012	House	Added Chief Co-Sponsor Rep. Renée Kosel
2/24/2012	House	Added Chief Co-Sponsor Rep. Mike Bost
5/10/2012	House	Added Chief Co-Sponsor Rep. Brad E. Halbrook
1/8/2013	House	Session Sine Die

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