Bill Status of HB3039 100th General Assembly
Short Description: THEATER CREDIT-CAP AND SUNSET
Rep. Michael J. Zalewski
| 3/31/2017||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act and the Live Theater Production Tax Credit Act. Provides that the live theater production credit applies for tax years beginning prior to January 1, 2027 (currently, January 1, 2017 by operation of the Act's automatic sunset provision. Provides that the amount of tax credits awarded pursuant to the Live Theater Production Tax Credit Act shall not exceed $4,000,000 in fiscal year 2017 and each fiscal year thereafter (currently $2,000,000).