|SB0398 Enrolled||LRB097 04210 HLH 44249 b|
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
If and only if Senate Bill 4 of the 97th General
Assembly, as amended by House Amendment 3, becomes law, then
the Film Production Services Tax Credit Act of 2008 is amended
by changing Section 42 as follows:
(35 ILCS 16/42)
Sunset of credits.
The application of credits
awarded pursuant to this Act shall be limited by a reasonable
and appropriate sunset date. A taxpayer shall not be entitled
to take a credit awarded pursuant to this Act for tax years
beginning on or after
years after the effective date of
this amendatory Act of the 97th General Assembly.
initial 10-year sunset, the General Assembly may extend the
sunset date by 5-year intervals.
This Act takes effect upon
becoming law, but no earlier than the effective date of Senate
Bill 4 of the 97th General Assembly.