Illinois General Assembly - Bill Status for HB0659
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 Bill Status of HB0659  102nd General Assembly


Short Description:  INC TAX-MANUFACTURING

House Sponsors
Rep. Keith R. Wheeler, Dan Brady and Ryan Spain

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 an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year, or 15% of the manufacturing capital expenditures if the taxpayer is located in a rural or economically challenged area. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately.

Actions 
DateChamber Action
  2/5/2021HouseFiled with the Clerk by Rep. Keith R. Wheeler
  2/8/2021HouseFirst Reading
  2/8/2021HouseReferred to Rules Committee
  3/2/2021HouseAssigned to Revenue & Finance Committee
  3/11/2021HouseTo Income Tax Subcommittee
  3/18/2021HouseAdded Co-Sponsor Rep. Dan Brady
  3/18/2021HouseAdded Co-Sponsor Rep. Ryan Spain
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

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