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Full Text of SB0398  97th General Assembly

SB0398enr 97TH GENERAL ASSEMBLY



 


 
SB0398 EnrolledLRB097 04210 HLH 44249 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. If and only if Senate Bill 4 of the 97th General
5Assembly, as amended by House Amendment 3, becomes law, then
6the Film Production Services Tax Credit Act of 2008 is amended
7by changing Section 42 as follows:
 
8    (35 ILCS 16/42)
9    Sec. 42. Sunset of credits. The application of credits
10awarded pursuant to this Act shall be limited by a reasonable
11and appropriate sunset date. A taxpayer shall not be entitled
12to take a credit awarded pursuant to this Act for tax years
13beginning on or after 10 5 years after the effective date of
14this amendatory Act of the 97th General Assembly. After the
15initial 10-year sunset, the General Assembly may extend the
16sunset date by 5-year intervals.
17(Source: 09700SB0004ham003.)
 
18    Section 99. Effective date. This Act takes effect upon
19becoming law, but no earlier than the effective date of Senate
20Bill 4 of the 97th General Assembly.