Illinois General Assembly

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 Bill Status of HB5578  98th General Assembly


Short Description:  INC TX-CREDITS

House Sponsors
Rep. Kelly M. Cassidy - Ann Williams - Mike Smiddy

Last Action
DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/255 new
35 ILCS 5/260 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that no corporate entity may claim an income tax credit, deduction, or exemption that is created by an Act of the General Assembly that first takes effect on or after the effective date of this amendatory Act of the 98th General Assembly. Provides that no credit, deduction, or exemption that is available to corporate entities on the effective date of this amendatory Act of the 98th General Assembly may be expanded by an Act of the General Assembly or by a rule adopted by a State agency. Creates a Corporate Tax Incentive Accountability Commission. Effective immediately.

Actions 
DateChamber Action
  2/13/2014HouseFiled with the Clerk by Rep. Kelly M. Cassidy
  2/14/2014HouseAdded Chief Co-Sponsor Rep. Ann Williams
  2/14/2014HouseFirst Reading
  2/14/2014HouseReferred to Rules Committee
  3/3/2014HouseAssigned to Revenue & Finance Committee
  3/11/2014HouseTo Income Tax Subcommittee
  3/21/2014HouseAdded Chief Co-Sponsor Rep. Mike Smiddy
  3/28/2014HouseRule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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