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

SB1595sam001 101ST GENERAL ASSEMBLY

Sen. Elgie R. Sims, Jr.

Filed: 2/28/2019

 

 


 

 


 
10100SB1595sam001LRB101 08982 HLH 56530 a

1
AMENDMENT TO SENATE BILL 1595

2    AMENDMENT NO. ______. Amend Senate Bill 1595 by replacing
3everything after the enacting clause with the following:
 
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. This Act is exempt from the
8provisions of Section 250 of the Illinois Income Tax Act. The
9application of credits awarded pursuant to this Act shall be
10limited by a reasonable and appropriate sunset date. A taxpayer
11shall not be entitled to take a credit awarded pursuant to this
12Act for tax years beginning on or after 10 years after the
13effective date of this amendatory Act of the 97th General
14Assembly. After the initial 10-year sunset, the General
15Assembly may extend the sunset date by 5-year intervals.
16(Source: P.A. 97-2, eff. 5-6-11; 97-3, eff. 5-6-11.)
 

 

 

10100SB1595sam001- 2 -LRB101 08982 HLH 56530 a

1    Section 99. Effective date. This Act takes effect upon
2becoming law.".