Illinois General Assembly - Bill Status for SB2977
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 Bill Status of SB2977  100th General Assembly

Short Description:  RIVER EDGE TAX CREDIT

Senate Sponsors
Sen. Linda Holmes

Last Action
DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/224 new
65 ILCS 115/10-10.1


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that taxpayers are entitled to an income tax credit against the taxes imposed under the River Edge Redevelopment Zone Act equal to 100% of the reasonable and prudent costs incurred by a public utility. Provides that any amount of credit that exceeds a taxpayer's liabilities shall be refunded to the taxpayer. Amends the River Edge Redevelopment Zone Act. Restricts the amount of costs recovered by a public utility from retail customers to $5,000,000. Provides for a repeal date of July 1, 2020 (currently, July 29, 2017).

Actions 
DateChamber Action
  2/4/2014SenateFiled with Secretary by Sen. Linda Holmes
  2/4/2014SenateFirst Reading
  2/4/2014SenateReferred to Assignments
  2/19/2014SenateAssigned to Revenue
  2/25/2014SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Linda Holmes
  2/25/2014SenateSenate Committee Amendment No. 1 Referred to Assignments
  2/26/2014SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
  3/4/2014SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Linda Holmes
  3/4/2014SenateSenate Committee Amendment No. 2 Referred to Assignments
  3/5/2014SenateSenate Committee Amendment No. 2 Assignments Refers to Revenue
  3/6/2014SenatePostponed - Revenue
  3/20/2014SenateSenate Committee Amendment No. 3 Filed with Secretary by Sen. Linda Holmes
  3/20/2014SenateSenate Committee Amendment No. 3 Referred to Assignments
  3/20/2014SenateSenate Committee Amendment No. 3 Assignments Refers to Revenue
  3/21/2014SenatePostponed - Revenue
  3/21/2014SenateSenate Committee Amendment No. 1 Postponed - Revenue
  3/21/2014SenateSenate Committee Amendment No. 2 Postponed - Revenue
  3/21/2014SenateSenate Committee Amendment No. 3 Postponed - Revenue
  3/27/2014SenatePostponed - Revenue
  3/27/2014SenateSenate Committee Amendment No. 1 Postponed - Revenue
  3/27/2014SenateSenate Committee Amendment No. 2 Postponed - Revenue
  3/27/2014SenateSenate Committee Amendment No. 3 Postponed - Revenue
  3/28/2014SenateRule 3-9(a) / Re-referred to Assignments
  3/28/2014SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  3/28/2014SenateSenate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments
  3/28/2014SenateSenate Committee Amendment No. 3 Rule 3-9(a) / Re-referred to Assignments
  1/13/2015SenateSession Sine Die

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