LAWFER AND BOLAND.
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, 1999. Sunsets the credit after 5
years. Effective immediately.
99-02-03 H FILED WITH CLERK
99-02-03 H FIRST READING
99-02-03 H REFERRED TO HOUSE RULES COMMITTEE RULES
99-02-10 H ASSIGNED TO COMMITTEE REVENUE
99-02-25 H ADDED AS A CO-SPONSOR BOLAND
99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL
01-01-09 H SESSION SINE DIE
END OF INQUIRY
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