Bill Status of HB 3685   99th General Assembly


Short Description:  PROP TX-INC TX-BUSINESS CREDIT

House Sponsors
Rep. Litesa E. Wallace

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/224 new
35 ILCS 200/18-184.15 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that a taxing district may grant an abatement for property that contains an expanded business facility. Defines "expanded business facility" to include a requirement that the business must create a certain number of new employment positions at the facility. Contains provisions allowing for an enhanced abatement for certain facilities. Amends the Illinois Income Tax Act to create a credit equal to a percentage of the remaining tax liability for the property. Effective immediately.

Actions 
DateChamber Action
  2/26/2015HouseFiled with the Clerk by Rep. Litesa E. Wallace
  2/26/2015HouseFirst Reading
  2/26/2015HouseReferred to Rules Committee
  3/10/2015HouseAssigned to Revenue & Finance Committee
  3/13/2015HouseTo Property Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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