Illinois General Assembly - Bill Status for HB0485

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Bill Status of HB0485 99th General Assembly

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Short Description: INC TX-CREDITS

House Sponsors
Rep. Kelly M. Cassidy

Last Action

Date	Chamber	Action
1/10/2017	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/255 new

35 ILCS 5/260 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that no corporate entity may claim an income tax credit, deduction, or exemption that is created by an Act of the General Assembly that first takes effect on or after the effective date of this amendatory Act of the 99th General Assembly. Provides that no credit, deduction, or exemption that is available to corporate entities on the effective date of this amendatory Act of the 99th General Assembly may be expanded by an Act of the General Assembly or by a rule adopted by a State agency. These changes are repealed on January 11, 2017. Creates a Corporate Tax Incentive Accountability Commission. Effective immediately.

Actions

Date	Chamber	Action
1/30/2015	House	Filed with the Clerk by Rep. Kelly M. Cassidy
1/30/2015	House	First Reading
1/30/2015	House	Referred to Rules Committee
2/13/2015	House	Assigned to Revenue & Finance Committee
2/20/2015	House	To Income Tax Subcommittee
3/27/2015	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2017	House	Session Sine Die

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