Illinois General Assembly - Bill Status for HB2432
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 Bill Status of HB2432  99th General Assembly


Short Description:  INC TX-CAPITAL GAINS CREDIT

House Sponsors
Rep. Dwight Kay

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/224 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit equal to 50% of the taxpayer's qualified investments in a qualified business during the taxable year. Defines "qualified investments" and "qualified business". Provides that any credit not usable for the taxable year may be carried over for the next 15 succeeding taxable years. Provides that the amount of tax credit available for a calendar year shall be $5,000,000. Effective immediately.

Actions 
DateChamber Action
  2/11/2015HouseFiled with the Clerk by Rep. Dwight Kay
  2/17/2015HouseFirst Reading
  2/17/2015HouseReferred to Rules Committee
  3/2/2015HouseAssigned to Revenue & Finance Committee
  3/6/2015HouseTo Income Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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