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Revenue & Finance Committee
Filed: 4/28/2010
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09600SB2534ham001 |
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LRB096 17408 JDS 40538 a |
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| AMENDMENT TO SENATE BILL 2534
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| AMENDMENT NO. ______. Amend Senate Bill 2534 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The New Markets Development Program Act is |
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| amended by changing Section 20 as follows:
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| (20 ILCS 663/20) |
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| Sec. 20. Annual cap on credits. The The Department shall |
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| limit the monetary amount of qualified equity investments |
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| permitted under this Act to a level necessary to limit tax |
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| credit use at no more than $10,000,000 of tax credits in any |
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| fiscal year. This limitation on qualified equity investments |
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| shall be based on the anticipated use of credits without regard |
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| to the potential for taxpayers to carry forward tax credits to |
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| later tax years. |
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| (Source: P.A. 95-1024, eff. 12-31-08.)".
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