HB2834 100TH GENERAL ASSEMBLY

LRB100 05636 HLH 15650 b

100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB2834

Introduced , by Rep. Tony McCombie

SYNOPSIS AS INTRODUCED:

35 ILCS 10/5-77

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not enter into any new EDGE Agreements after December 31, 2021 (currently, December 31, 2016). Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Economic Development for a Growing Economy Tax Credit Act is amended by changing Section 5-77 as follows:

(35 ILCS 10/5-77)

Sec. 5-77. Sunset of new Agreements. The Department shall not enter into any new Agreements under the provisions of Section 5-50 of this Act after December 31, 2021 December 31, 2016.

(Source: P.A. 97-2, eff. 5-6-11.)

Section 99. Effective date. This Act takes effect upon becoming law.