Bill Status of HB1241  103rd General Assembly

Short Description:  ENDOW ILLINOIS CREDIT

House Sponsors
Rep. Margaret Croke - Norine K. Hammond - Elizabeth "Lisa" Hernandez - Natalie A. Manley - Ryan Spain, William "Will" Davis, Joe C. Sosnowski, Robert "Bob" Rita, Dan Swanson, Maurice A. West, II, Travis Weaver, Dave Severin, Edgar González, Jr., Gregg Johnson, Joyce Mason, Mary E. Flowers, Bob Morgan, Nabeela Syed, William E Hauter, La Shawn K. Ford, Kevin John Olickal, Angelica Guerrero-Cuellar, Diane Blair-Sherlock, Aarón M. Ortíz, Matt Hanson, Katie Stuart, Dagmara Avelar, Dave Vella, Anna Moeller, Harry Benton, Jay Hoffman and Sharon Chung

Last Action
DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/203from Ch. 120, par. 2-203
35 ILCS 5/234 new


Synopsis As Introduced
Creates the Endow Illinois Tax Credit Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who provide an endowment gift to a permanent endowment fund during the taxable year and receive a certificate of receipt for that gift. Provides that the credit is equal to 25% of the endowment gift. Contains provisions setting forth maximum credit amounts. Amends the Illinois Income Tax Act to require an addition modification equal to the amount of any federal deduction claimed for an endowment gift for which a taxpayer receives a credit under the Endow Illinois Tax Credit Act. Makes conforming changes. Effective immediately.

Actions 
DateChamber Action
  1/18/2023HouseFiled with the Clerk by Rep. Margaret Croke
  1/19/2023HouseAdded Chief Co-Sponsor Rep. Norine K. Hammond
  1/19/2023HouseAdded Co-Sponsor Rep. William "Will" Davis
  1/27/2023HouseAdded Co-Sponsor Rep. Joe C. Sosnowski
  1/31/2023HouseFirst Reading
  1/31/2023HouseReferred to Rules Committee
  2/7/2023HouseAssigned to Revenue & Finance Committee
  2/8/2023HouseAdded Co-Sponsor Rep. Robert "Bob" Rita
  2/10/2023HouseAdded Co-Sponsor Rep. Dan Swanson
  2/14/2023HouseAdded Co-Sponsor Rep. Maurice A. West, II
  2/16/2023HouseTo Revenue - Tax Credit and Incentives Subcommittee
  2/23/2023HouseAdded Chief Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
  2/28/2023HouseAdded Co-Sponsor Rep. Travis Weaver
  3/2/2023HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Margaret Croke
  3/2/2023HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/7/2023HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  3/10/2023HouseRule 19(a) / Re-referred to Rules Committee
  3/10/2023HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  3/13/2023HouseAdded Chief Co-Sponsor Rep. Ryan Spain
  3/22/2023HouseAdded Co-Sponsor Rep. Dave Severin
  3/23/2023HouseAdded Co-Sponsor Rep. Edgar González, Jr.
  3/23/2023HouseAdded Co-Sponsor Rep. Gregg Johnson
  4/3/2023HouseAdded Co-Sponsor Rep. Joyce Mason
  4/4/2023HouseAdded Co-Sponsor Rep. Mary E. Flowers
  4/4/2023HouseAdded Co-Sponsor Rep. Bob Morgan
  4/11/2023HouseAdded Co-Sponsor Rep. Nabeela Syed
  4/11/2023HouseAdded Co-Sponsor Rep. Lilian Jiménez
  4/11/2023HouseAdded Co-Sponsor Rep. William E Hauter
  4/11/2023HouseAdded Co-Sponsor Rep. La Shawn K. Ford
  4/14/2023HouseAdded Co-Sponsor Rep. Kevin John Olickal
  4/27/2023HouseAdded Co-Sponsor Rep. Angelica Guerrero-Cuellar
  5/5/2023HouseAdded Chief Co-Sponsor Rep. Natalie A. Manley
  5/5/2023HouseAdded Co-Sponsor Rep. Diane Blair-Sherlock
  5/10/2023HouseAdded Co-Sponsor Rep. Aarón M. Ortíz
  5/10/2023HouseAdded Co-Sponsor Rep. Matt Hanson
  5/19/2023HouseRemoved Co-Sponsor Rep. Lilian Jiménez
  12/7/2023HouseAdded Co-Sponsor Rep. Katie Stuart
  12/13/2023HouseAdded Co-Sponsor Rep. Dagmara Avelar
  12/20/2023HouseAdded Co-Sponsor Rep. Dave Vella
  1/23/2024HouseAdded Co-Sponsor Rep. Anna Moeller
  1/31/2024HouseAssigned to Revenue & Finance Committee
  1/31/2024HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  2/20/2024HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Margaret Croke
  2/20/2024HouseHouse Committee Amendment No. 2 Referred to Rules Committee
  2/26/2024HouseAdded Co-Sponsor Rep. Harry Benton
  3/5/2024HouseHouse Committee Amendment No. 2 Rules Refers to Revenue & Finance Committee
  3/8/2024HouseTo Revenue - Tax Credit and Incentives Subcommittee
  3/8/2024HouseHouse Committee Amendment No. 1 To Revenue - Tax Credit and Incentives Subcommittee
  3/8/2024HouseHouse Committee Amendment No. 2 To Revenue - Tax Credit and Incentives Subcommittee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee
  4/5/2024HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  4/5/2024HouseHouse Committee Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee
  4/11/2024HouseAdded Co-Sponsor Rep. Jay Hoffman
  5/2/2024HouseAdded Co-Sponsor Rep. Sharon Chung
  1/7/2025HouseSession Sine Die