92nd General Assembly
Status of SB1610
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LUECHTEFELD.

   35 ILCS 5/213 new                                                           

        Amends the Illinois Income Tax Act.   Creates  a  new  generation      
   cooperative incentive tax credit.  Provides for a credit of the lesser      
   of  50%  of  a  member's  investment  or  $20,000 for each member of a      
   nonprofit cooperative approved by the Department of Revenue and formed      
   for the purpose of operating (i) a facility  producing  goods  derived      
   from  an  agricultural  commodity  or using a process to produce goods      
   derived  from  an  agricultural  product  or  (ii)  a  renewable  fuel      
   production facility.  The credits allowed for any one  new  generation      
   cooperative may not exceed $5,000,000.  Effective immediately.              
   JAN-29-2002  S  FIRST READING                                                  
   JAN-29-2002  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary