Illinois General Assembly - Full Text of SB0047
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Full Text of SB0047  100th General Assembly



SB0047 EngrossedLRB100 05141 HLH 15151 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.)