Illinois General Assembly - Bill Status for HB5805

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

Date	Chamber	Action
2/16/2012	House	Filed with the Clerk by Rep. Dwight Kay
2/16/2012	House	First Reading
2/16/2012	House	Referred to Rules Committee
2/28/2012	House	Added Chief Co-Sponsor Rep. Jason Barickman
2/28/2012	House	Added Chief Co-Sponsor Rep. Mike Bost
1/8/2013	House	Session Sine Die

×