Illinois General Assembly - Bill Status for HB3307
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 Bill Status of HB3307  102nd General Assembly


Short Description:  INC TX-OPPORTUNITY ZONES

House Sponsors
Rep. Justin Slaughter and Tony McCombie

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

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 
DateChamber Action
  2/19/2021HouseFiled with the Clerk by Rep. Justin Slaughter
  2/19/2021HouseFirst Reading
  2/19/2021HouseReferred to Rules Committee
  3/16/2021HouseAssigned to Revenue & Finance Committee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  4/9/2021HouseAdded Co-Sponsor Rep. Tony McCombie

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