Bill Status of HB 485   99th General Assembly


Short Description:  INC TX-CREDITS

House Sponsors
Rep. Kelly M. Cassidy

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/255 new
35 ILCS 5/260 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that no corporate entity may claim an income tax credit, deduction, or exemption that is created by an Act of the General Assembly that first takes effect on or after the effective date of this amendatory Act of the 99th General Assembly. Provides that no credit, deduction, or exemption that is available to corporate entities on the effective date of this amendatory Act of the 99th General Assembly may be expanded by an Act of the General Assembly or by a rule adopted by a State agency. These changes are repealed on January 11, 2017. Creates a Corporate Tax Incentive Accountability Commission. Effective immediately.

Actions 
DateChamber Action
  1/30/2015HouseFiled with the Clerk by Rep. Kelly M. Cassidy
  1/30/2015HouseFirst Reading
  1/30/2015HouseReferred to Rules Committee
  2/13/2015HouseAssigned to Revenue & Finance Committee
  2/20/2015HouseTo Income Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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