90th General Assembly
Status of HB2648
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NOLAND-TURNER,JOHN-WIRSING.

   35 ILCS 5/211 new                                                           

        Amends the Illinois Income Tax Act.  Creates an income tax credit      
   for a taxpayer that owns a livestock management facility in the amount      
   of  5%  of  amounts  spent  by  the  taxpayer  in  the  tax  year   on      
   environmental  equipment  for  the facility that will mitigate air and      
   water quality problems.  Provides that the Department of  Agriculture,      
   in  cooperation  with  the  Illinois  Environmental Protection Agency,      
   shall, by rule, determine what equipment qualifies  for  this  credit.      
   Provides  that  in  no  event  shall  the credit reduce the taxpayer's      
   liability to below zero.  Provides that  the  credit  may  be  carried      
   forward  for  5  years.  Provides that the credit applies to tax years      
   beginning on or after January 1, 1998.  Sunsets  the  credit  after  5      
   years.  Effective immediately.                                              
   98-01-29  H  FILED WITH CLERK                                               
   98-01-29  H  ADDED AS A JOINT SPONSOR                 TURNER,JOHN           
   98-01-29  H  ADDED AS A CO-SPONSOR                    WIRSING               
   98-02-03  H  FIRST READING                                                  
   98-02-03  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-01-12  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary