Illinois General Assembly - Bill Status for HB5460
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 Bill Status of HB5460  102nd General Assembly


Short Description:  BIOMANUFACTURING CENTER CREDIT

House Sponsors
Rep. Ryan Spain and Thomas M. Bennett

Last Action
DateChamber Action
  2/18/2022HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
New Act
20 ILCS 605/605-1027 new
30 ILCS 105/5.970 new
30 ILCS 105/5.971 new
30 ILCS 105/5.972 new
35 ILCS 5/229.5 new


Synopsis As Introduced
Creates the Illinois Biomanufacturing Act. Provides for the creation of the Illinois Biomanufacturing Institute. Provides for the Board of Directors of the Institute. Provides for the duties of the Institute. Provides for funding of the Institute. Provides Institute reporting requirements. Creates the Biomanufacturing Initiative Task Force. Provides purpose and duties of the Task Force. Provides for Task Force membership. Provides for meetings of the Task Force. Provides for administrative support for the Task Force. Provides Task Force reporting requirements. Creates the Biomanufacturing Equity Investment Fund, the Biomanufacturing Loan Fund, and the Biomanufacturing Grant Fund as special funds in the State treasury for specified purposes concerning investment in and funding of biomanufacturing centers. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides for tax credits for qualifying biomanufacturing centers. Provides further requirements concerning the issuance of the tax credit. Amends the State Finance Act to provide for specified special funds. Amends the Illinois Income Tax Act to provide for the biomanufacturing center tax credit. Defines terms.

Actions 
DateChamber Action
  1/28/2022HouseFiled with the Clerk by Rep. Ryan Spain
  1/31/2022HouseFirst Reading
  1/31/2022HouseReferred to Rules Committee
  2/9/2022HouseAssigned to Revenue & Finance Committee
  2/15/2022HouseTo Income Tax Subcommittee
  2/18/2022HouseRule 19(a) / Re-referred to Rules Committee
  2/22/2022HouseAdded Co-Sponsor Rep. Thomas M. Bennett

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