90th General Assembly
Summary of HB2648
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House Sponsors:

Short description: 
INC TX-CREDIT-LIVESTOCK FACIL                                              

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Creates an income tax credit      
   for a taxpayer that owns a livestock management facility in the amount      
   of  5%  of  amounts  spent  by  the  taxpayer  in  the  tax  year   on      
   environmental  equipment  for  the facility that will mitigate air and      
   water quality problems.  Provides that the Department of  Agriculture,      
   in  cooperation  with  the  Illinois  Environmental Protection Agency,      
   shall, by rule, determine what equipment qualifies  for  this  credit.      
   Provides  that  in  no  event  shall  the credit reduce the taxpayer's      
   liability to below zero.  Provides that  the  credit  may  be  carried      
   forward  for  5  years.  Provides that the credit applies to tax years      
   beginning on or after January 1, 1998.  Sunsets  the  credit  after  5      
   years.  Effective immediately.                                              
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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