Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 5/218 new

Synopsis As Introduced
Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize may not exceed $50,000,000 in 2009, $75,000,000 in 2010, or $100,000,000 in 2011 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 3 years. Exempts the credit from the Act's sunset provisions. Effective immediately.

Actions 

Date	Chamber	Action
2/18/2009	House	Filed with the Clerk by Rep. Robert W. Pritchard
2/19/2009	House	Added Chief Co-Sponsor Rep. Robert F. Flider
2/19/2009	House	Added Chief Co-Sponsor Rep. Cynthia Soto
2/19/2009	House	First Reading
2/19/2009	House	Referred to Rules Committee
2/23/2009	House	Assigned to Revenue & Finance Committee
3/5/2009	House	Added Co-Sponsor Rep. Kay Hatcher
3/5/2009	House	Added Co-Sponsor Rep. Linda Chapa LaVia
3/5/2009	House	Added Co-Sponsor Rep. Paul D. Froehlich
3/5/2009	House	Added Co-Sponsor Rep. Elizabeth Hernandez
3/5/2009	House	Added Co-Sponsor Rep. William Davis
3/11/2009	House	Added Co-Sponsor Rep. Dave Winters
3/11/2009	House	Added Co-Sponsor Rep. Mike Boland
3/12/2009	House	Added Co-Sponsor Rep. Naomi D. Jakobsson
3/12/2009	House	Added Co-Sponsor Rep. Kenneth Dunkin
3/13/2009	House	Rule 19(a) / Re-referred to Rules Committee
3/19/2009	House	Added Co-Sponsor Rep. Jil Tracy
1/11/2011	House	Session Sine Die

Back To Top