Bill Status of HB7012 93rd General Assembly
Short Description: INC TAX-BROADBAND ACCESS-CREDT
Rep. John E. Bradley
| 1/11/2005||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides an income tax credit, for 5 taxable years, for providing broadband Internet access. Provides that the "current generation" broadband credit for any taxable year shall equal 10% of the qualified expenditures incurred with respect to qualified equipment offering current generation broadband services to rural subscribers or underserved subscribers and taken into account with respect to such taxable year and that the next generation broadband credit for any taxable year shall equal 20% of the qualified expenditures incurred with respect to qualified equipment offering next generation broadband services to all rural subscribers, all underserved subscribers, or any other residential subscribers and taken into account with respect to such taxable year. Provides that the total credit allowed for all taxpayers in any taxable year shall not exceed $750,000. Effective immediately.
|Date||Chamber|| Action|| 2/9/2004||House||Filed with the Clerk by Rep. John E. Bradley|| 2/9/2004||House||First Reading|| 2/9/2004||House||Referred to Rules Committee|| 1/11/2005||House||Session Sine Die|