Illinois General Assembly - Bill Status for HB3307

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Bill Status of HB3307 102nd General Assembly

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Short Description: INC TX-OPPORTUNITY ZONES

House Sponsors
Rep. Justin Slaughter and Tony McCombie

Last Action

Date	Chamber	Action
1/10/2023	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/232 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the investment made by the taxpayer during the taxable year in a Qualified Opportunity Fund. Provides that no such credit may be taken for any taxable year that begins prior to January 1, 2022. Provides that excess credits may be carried forward or back. Provides that the aggregate amount of the Qualified Opportunity Fund tax credit shall be limited to $10,000 per taxpayer per calendar year. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Actions

Date	Chamber	Action
2/19/2021	House	Filed with the Clerk by Rep. Justin Slaughter
2/19/2021	House	First Reading
2/19/2021	House	Referred to Rules Committee
3/16/2021	House	Assigned to Revenue & Finance Committee
3/27/2021	House	Rule 19(a) / Re-referred to Rules Committee
4/9/2021	House	Added Co-Sponsor Rep. Tony McCombie
1/10/2023	House	Session Sine Die

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