Illinois General Assembly - Bill Status for HB0554

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the duration of the credit may not exceed 15 (now, 10) taxable years. In provisions setting forth requirements for applicants for the credit, provides that for projects determined to be eligible because they meet the investment and new employee criteria established by the Department of Commerce and Economic Opportunity, the Department shall approve those that will provide a return on the State's investment. Amends the Illinois Income Tax Act to make the commensurate change extending the duration of the credit to 15 years. Effective immediately.

Actions

Date	Chamber	Action
1/27/2005	House	Filed with the Clerk by Rep. William B. Black
1/27/2005	House	First Reading
1/27/2005	House	Referred to Rules Committee
2/2/2005	House	Assigned to Revenue Committee
2/10/2005	House	Added Co-Sponsor Rep. Daniel V. Beiser
2/18/2005	House	Motion Filed Rep. William B. Black; Table House Bill 554 Pursuant to Rule 60(b)
2/23/2005	House	Motion Prevailed
2/23/2005	House	Tabled By Sponsor Rep. William B. Black
3/15/2005	House	Added Chief Co-Sponsor Rep. Lisa M. Dugan
3/16/2005	House	Added Co-Sponsor Rep. Careen M Gordon

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