Illinois General Assembly - Full Text of SB0398
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Full Text of SB0398  97th General Assembly

SB0398sam002 97TH GENERAL ASSEMBLY

Sen. John J. Cullerton

Filed: 3/30/2011

 

 


 

 


 
09700SB0398sam002LRB097 04210 HLH 53631 a

1
AMENDMENT TO SENATE BILL 398

2    AMENDMENT NO. ______. Amend Senate Bill 398 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. If and only if Senate Bill 4 of the 97th
5General Assembly, as amended by House Amendment 3, becomes law,
6then the Film Production Services Tax Credit Act of 2008 is
7amended by changing Section 42 as follows:
 
8    (35 ILCS 16/42)
9    Sec. 42. Sunset of credits. The application of credits
10awarded pursuant to this Act shall be limited by a reasonable
11and appropriate sunset date. A taxpayer shall not be entitled
12to take a credit awarded pursuant to this Act for tax years
13beginning on or after 10 5 years after the effective date of
14this amendatory Act of the 97th General Assembly. After the
15initial 10-year sunset, the General Assembly may extend the
16sunset date by 5-year intervals.

 

 

09700SB0398sam002- 2 -LRB097 04210 HLH 53631 a

1(Source: 09700SB0004ham003.)
 
2    Section 99. Effective date. This Act takes effect upon
3becoming law, but no earlier than the effective date of Senate
4Bill 4 of the 97th General Assembly.".