HB3271sam004 98TH GENERAL ASSEMBLY

Sen. Thomas Cullerton

Filed: 12/3/2013

09800HB3271sam004 LRB098 09263 HLH 50225 a

AMENDMENT TO HOUSE BILL 3271

AMENDMENT NO. ______. Amend House Bill 3271, AS AMENDED, with reference to page and line numbers of Senate Amendment No. 3, on page 7, immediately below line 16, by inserting the following:

"(1.9) Notwithstanding any other provision of law, an election under this subsection (f) may also be made by a Taxpayer that:

(A) is primarily engaged in business as a distributor of industrial and specialty chemicals;

(B) relocates its corporate headquarters to Illinois from another State; and

(C) entered into an Agreement for a Credit prior to the effective date of this amendatory Act of the 98th General Assembly, which required the Taxpayer to (i) make a capital investment of at least $9,300,000, (ii) retain at least 100 full-time jobs at project locations in Illinois, and (iii) create at least 69 full-time jobs at project locations in Illinois."; and

on page 7, line 21, after "Act", by inserting ", except that an election under paragraph (1.9) shall allow the credit to be taken against payments otherwise due under Section 704A of the Illinois Income Tax Act during the 12-month period beginning with the first month after the Taxpayer relocates its corporate headquarters to Illinois".