Bill Status of HB3556 100th General Assembly
Short Description: INC TX-THRIVE TAX CREDIT
Rep. Keith R. Wheeler
|Revenue & Finance Committee Hearing Mar 30 2017 8:00AM Stratton Building Room C-1 Springfield, IL |
Growth, Reform & Fairness Subcommittee Hearing Mar 30 2017 8:00AM Stratton Building Room C-1 Springfield, IL
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Transforming, Helping, and Reviving Illinois' Versatile Economy (THRIVE) Job Creation Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall award an income tax credit to taxpayers that meet certain criteria. Contains job creation and capital investment requirements. Provides that the credit may not exceed 50% of the incremental income tax attributable to the applicant's project. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.