Illinois General Assembly - Bill Status for HB0374
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 Bill Status of HB0374  99th General Assembly


Short Description:  DIGITAL MEDIA TAX CREDIT

House Sponsors
Rep. Fred Crespo

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/224 new


Synopsis As Introduced
Creates the Interactive Digital Media Tax Credit Act. Entitles interactive digital media companies that meet certain requirements to an income tax credit based on the amount of the Illinois labor expenditure and Illinois production spending approved by the Department of Commerce and Economic Opportunity for the production. Authorizes taxpayers to take the credit beginning in the taxable year in which the company has met the investment requirement. Provides for the transfer of credits. Requires the Department to submit a report concerning the program to the General Assembly no later than July 1, 2020. Provides that the Act is repealed on July 1, 2021. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Actions 
DateChamber Action
  1/28/2015HouseFiled with the Clerk by Rep. Fred Crespo
  1/28/2015HouseFirst Reading
  1/28/2015HouseReferred to Rules Committee
  2/13/2015HouseAssigned to Revenue & Finance Committee
  2/20/2015HouseTo Income Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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