Bill Status of HB4991  93rd General Assembly


House Sponsors
Rep. Donald L. Moffitt - Suzanne Bassi - Robert W. Pritchard - Elizabeth Coulson - Jim Sacia, Chapin Rose, Patricia Reid Lindner, William B. Black, Eileen Lyons and James H. Meyer

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 10/5-16 new

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that in lieu of an income tax credit, an applicant may opt to receive economic development incentive payments under the Act. Defines "applicant" as any employer located or that plans to locate in Illinois. Provides that for each new employee, the applicant shall receive an incentive payment equal to or greater than the incremental income tax for that employee, as determined by the Department of Commerce and Community Affairs. Provides that, in addition, the applicant shall receive a supplemental incentive payment, in an amount determined by the Department, if the applicant provides health benefits for the new employees. Provides that agreements for the payments may last up to 10 years and that payments shall be made on a quarterly basis. Requires application for the payments on or before December 31, 2008. Requires the Department to report each January 1 to the Governor and the General Assembly on the progress of the incentive payment program. Effective January 1, 2005.

DateChamber Action
  2/5/2004HouseFiled with the Clerk by Rep. Donald L. Moffitt
  2/5/2004HouseFirst Reading
  2/5/2004HouseReferred to Rules Committee
  2/13/2004HouseAdded Chief Co-Sponsor Rep. Suzanne Bassi
  2/25/2004HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard
  2/25/2004HouseAdded Chief Co-Sponsor Rep. Elizabeth Coulson
  2/25/2004HouseAdded Chief Co-Sponsor Rep. Jim Sacia
  2/25/2004HouseAdded Co-Sponsor Rep. Chapin Rose
  2/25/2004HouseAdded Co-Sponsor Rep. Patricia Reid Lindner
  2/25/2004HouseAdded Co-Sponsor Rep. William B. Black
  2/25/2004HouseAdded Co-Sponsor Rep. Eileen Lyons
  2/25/2004HouseAdded Co-Sponsor Rep. James H. Meyer
  1/11/2005HouseSession Sine Die