92nd General Assembly
Status of SB0232
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   35 ILCS 5/213 new                                                           

        Amends the Illinois Income Tax Act.   Creates  a  new  generation      
   cooperative incentive tax credit.  Provides for a credit of the lesser      
   of  50%  of  a  member's  investment  or  $20,000 for each member of a      
   nonprofit cooperative approved by the Department of Revenue and formed      
   for the purpose of operating (i) a facility  producing  goods  derived      
   from  an  agricultural  commodity  or using a process to produce goods      
   derived  from  an  agricultural  product  or  (ii)  a  renewable  fuel      
   production facility.  The credits allowed for any one  new  generation      
   cooperative may not exceed $5,000,000.  Effective immediately.              
   FEB-20-2001  S  FIRST READING                                                  
   FEB-20-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-21-2001  S       ASSIGNED TO COMMITTEE               REVENUE               
   MAR-22-2001  S                         HELD IN COMMITTEE                       
   MAR-29-2001  S                                 POSTPONED                       
   MAR-29-2001  S                   COMMITTEE               REVENUE               
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   MAY-31-2001  S            RULED EXEMPT UNDER SENATE RULE 3-9(B)        SRUL    
   MAY-31-2001  S                                           NOVEMBER 1, 2001.     
   MAY-31-2001  S       ASSIGNED TO COMMITTEE               REVENUE               
   NOV-02-2001  S  REFER TO RULES/PURSUANT SEN RULE 3-9 (B) RULES         SRUL    
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary