91st General Assembly
Status of HB1957
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TURNER,ART.

   35 ILCS 5/212 new                                                           

        Amends  the  Illinois  Income  Tax  Act.   Creates  the  Illinois      
   low-income housing tax credit.  Grants a taxpayer owning  an  interest      
   in  a  qualified  project  the  credit  in an amount determined by the      
   Illinois Housing Development Authority to ensure  the  feasibility  of      
   the  project.   Limits  the amount of the credit to an amount equal to      
   the federal credit.  Allows an excess credit to be carried forward and      
   applied to the tax liability of the succeeding 10 years.  Excepts from      
   the Act's sunset requirements.  Effective immediately.                      
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          35 ILCS 5/212 new                                                    
          Adds reference to:                                                   
          35 ILCS 5/101                   from Ch. 120, par. 1-101             
        Deletes everything. Amends the Illinois Income Tax Act concerning      
   the short title.  Makes a technical change.                                 
   99-02-18  H  FIRST READING                                                  
   99-02-18  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-02-24  H       ASSIGNED TO COMMITTEE               REVENUE               
   99-03-04  H                             AMENDMENT NO. 01-REVENUE       H    
   99-03-04  H                                   ADOPTED                       
   99-03-04  H  DO PASS AS AMENDED/STANDARD DEBATE       005-000-004   HREV    
   99-03-04  H  PLACED CAL 2ND READING-STANDARD DEBATE                         
   99-03-16  H  SECOND READING-STANDARD DEBATE                                 
   99-03-16  H  HELD CAL ORDER 2ND READING-STANDARD DBT                        
   99-03-26  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   01-01-09  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary