Bill Status of SB 3672   96th General Assembly

Short Description:  ECON DEVELOPMENT TAX CREDIT

Senate Sponsors
Sen. Linda Holmes-Toi W. Hutchinson-Emil Jones, III, Deanna Demuzio, A. J. Wilhelmi, John M. Sullivan, Heather Steans, Jacqueline Y. Collins, Terry Link and Ira I. Silverstein

House Sponsors
(Rep. Carol A. Sente and Jehan A. Gordon)


Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 10/5-3

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Makes a technical change in a Section concerning the purpose of the Act.

Senate Committee Amendment No. 1
Deletes reference to:
35 ILCS 10/5-3
Adds reference to:
35 ILCS 10/5-15

Replaces everything after the enacting clause. Amends the Economic Development for a Growing Economy Tax Credit Act. Removes provisions requiring that, in order to claim the credit against its withholding tax liability, the taxpayer must (i) be engaged in motor vehicle metal stamping, automobile manufacturing, automobile and light duty motor vehicle manufacturing, motor vehicle manufacturing, light truck and utility vehicle manufacturing, or motor vehicle body manufacturing and (ii) employ a minimum of 1,000 full-time employees in the State during the taxable year in which the credit is awarded. Provides that a taxpayer may elect to claim the credit against its withholding tax liability if the taxpayer had an Illinois net loss or an Illinois net loss deduction for the taxable year in which the credit is awarded and (i) has an Agreement under the Act on the effective date of the amendatory Act and is in compliance with the provisions of that Agreement or (ii) has applied for an Agreement by July 1, 2010 or within 30 days after the effective date of the amendatory Act, whichever is later. Effective immediately.

Actions 
DateChamber Action
  2/11/2010SenateFiled with Secretary by Sen. Linda Holmes
  2/11/2010SenateFirst Reading
  2/11/2010SenateReferred to Assignments
  2/24/2010SenateAssigned to Revenue
  2/24/2010SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Linda Holmes
  2/24/2010SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/2/2010SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
  3/4/2010SenateSenate Committee Amendment No. 1 Adopted
  3/8/2010SenateDo Pass as Amended Revenue; 008-000-000
  3/8/2010SenatePlaced on Calendar Order of 2nd Reading March 9, 2010
  3/10/2010SenateSecond Reading
  3/10/2010SenatePlaced on Calendar Order of 3rd Reading March 11, 2010
  3/11/2010SenateAdded as Chief Co-Sponsor Sen. Toi W. Hutchinson
  3/11/2010SenateAdded as Chief Co-Sponsor Sen. Emil Jones, III
  3/11/2010SenateAdded as Co-Sponsor Sen. Deanna Demuzio
  3/11/2010SenateAdded as Co-Sponsor Sen. A. J. Wilhelmi
  3/11/2010SenateAdded as Co-Sponsor Sen. John M. Sullivan
  3/11/2010SenateAdded as Co-Sponsor Sen. Heather Steans
  3/11/2010SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
  3/11/2010SenateAdded as Co-Sponsor Sen. Terry Link
  3/11/2010SenateAdded as Co-Sponsor Sen. Ira I. Silverstein
  3/11/2010SenateThird Reading - Passed; 055-000-000
  3/11/2010HouseArrived in House
  3/11/2010HouseChief House Sponsor Rep. Carol A. Sente
  3/11/2010HousePlaced on Calendar Order of First Reading
  3/11/2010HouseFirst Reading
  3/11/2010HouseReferred to Rules Committee
  4/26/2010HouseAdded Alternate Co-Sponsor Rep. Jehan A. Gordon
  1/12/2011SenateSession Sine Die

Back To Top