<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 485          </title>
<shortdesc>INC TX-CREDITS</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Kelly M. Cassidy</sponsors>
</sponsor>
<lastaction>
<statusdate>1/10/2017</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/255 new</reference><aliasreference></aliasreference><reference>35 ILCS 5/260 new</reference><aliasreference></aliasreference><SynopsisText>     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 These changes are repealed on January 11, 2017.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.</SynopsisText></synopsis>
<actions>
<statusdate>1/30/2015</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Kelly M. Cassidy</action>
<statusdate>1/30/2015</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>1/30/2015</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/13/2015</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>2/20/2015</statusdate><chamber>House</chamber><action>To Income Tax Subcommittee</action>
<statusdate>3/27/2015</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/10/2017</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

