Bill Status of SB2032  101st General Assembly

Short Description:  INC TX-STATE PROPERTY

Senate Sponsors
Sen. Steve McClure

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
30 ILCS 605/7.1from Ch. 127, par. 133b10.1
35 ILCS 5/229 new
215 ILCS 5/409.2 new

Synopsis As Introduced
Creates the Illinois State Property Revitalization Tax Credit Act. Creates a credit against taxes imposed under the Illinois Income Tax Act and the Illinois Insurance Code in an amount equal to 30% of qualified expenditures incurred by a qualified taxpayer in the rehabilitation of certain property that had been owned by the State. Provides that credits must be approved by the Department of Commerce and Economic Opportunity. Provides that credits may be transferred and assigned. Contains provisions concerning application fees. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Amends the State Property Control Act. Makes changes to provisions concerning surplus real property. Effective immediately.

DateChamber Action
  2/15/2019SenateFiled with Secretary by Sen. Steve McClure
  2/15/2019SenateFirst Reading
  2/15/2019SenateReferred to Assignments
  3/5/2019SenateAssigned to Revenue
  3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019
  3/28/2019SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2021SenateSession Sine Die