Illinois General Assembly - Bill Status for HB2953
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 Bill Status of HB2953  102nd General Assembly


House Sponsors
Rep. Camille Y. Lilly

Last Action
DateChamber Action
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
20 ILCS 605/605-1055 new
35 ILCS 5/211
35 ILCS 10/5-45
35 ILCS 10/5-77

Synopsis As Introduced
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department shall establish and implement a Veterans' Economic Center pilot program for the purposes of assisting veterans in finding employment and addressing the problem of veteran homelessness. Amends the Illinois Income Tax Act and the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity may enter into new Agreements under the Act until June 30, 2025 (currently, June 30, 2022). Provides that a taxpayer who receives a credit under the Act for a taxable year ending on or before December 31, 2023 pursuant an Agreement entered into on or after the effective date of the amendatory Act may apply only 98% of that credit amount against his or her State income tax liability in any taxable year. Provides that the remaining 2% of the total credit amount awarded shall be transferred from the General Revenue Fund into the Veterans' Economic Center Fund. Provides that moneys in the Veterans' Economic Center Fund shall be used by the Department of Commerce and Economic Opportunity to administer the Veterans' Economic Center pilot program. Amends the State Finance Act to create the Veterans' Economic Center Fund. Effective immediately.

DateChamber Action
  2/18/2021HouseFiled with the Clerk by Rep. Camille Y. Lilly
  2/19/2021HouseFirst Reading
  2/19/2021HouseReferred to Rules Committee
  3/9/2021HouseAssigned to Revenue & Finance Committee
  3/18/2021HouseTo Income Tax Subcommittee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

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