Illinois General Assembly - Full Text of SB1595
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Full Text of SB1595  101st General Assembly




SB1595 EnrolledLRB101 08982 HLH 54075 b

1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Film Production Services Tax Credit Act of
52008 is amended by changing Section 42 as follows:
6    (35 ILCS 16/42)
7    Sec. 42. Sunset of credits. The application of credits
8awarded pursuant to this Act shall be limited by a reasonable
9and appropriate sunset date. A taxpayer shall not be entitled
10to take a credit awarded pursuant to this Act for tax years
11beginning on or after January 1, 2027 10 years after the
12effective date of this amendatory Act of the 97th General
13Assembly. After the initial 10-year sunset, the General
14Assembly may extend the sunset date by 5-year intervals.
15(Source: P.A. 97-2, eff. 5-6-11; 97-3, eff. 5-6-11.)
16    Section 99. Effective date. This Act takes effect upon
17becoming law.