Bill Status of HB5759  103rd General Assembly

Short Description:  MUSIC TAX CREDIT ACT

House Sponsors
Rep. Sharon Chung - Maurice A. West, II - Stephanie A. Kifowit, William "Will" Davis, Curtis J. Tarver, II and Joyce Mason

Last Action
DateChamber Action
  3/5/2024HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
New Act
5 ILCS 140/7.5
35 ILCS 5/203
35 ILCS 5/222
35 ILCS 5/241 new
35 ILCS 5/242 new
35 ILCS 17/10-1
35 ILCS 17/10-5
35 ILCS 17/10-10
35 ILCS 17/10-15
35 ILCS 17/10-20
35 ILCS 17/10-25
35 ILCS 17/10-30
35 ILCS 17/10-40
35 ILCS 17/10-50

Synopsis As Introduced
Creates the Music and Musicians Tax Credit and Jobs Act. Provides that the Department of Commerce and Economic Opportunity may award credits to qualified music companies. Creates the Music Education Scholarship Act. Provides that the Board of Higher Education may award scholarships to applicants who are enrolled in or accepted for admission to an associate, baccalaureate, or graduate degree program in music education and who agree to meet certain teaching obligations. Amends the Illinois Income Tax Act. Creates certain income tax credits for theater infrastructure projects. Amends the Live Theater Production Tax Credit Act. Renames the Act as the Live Music and Theater Production Tax Credit Act. Provides that the Act also applies to musical performances.

DateChamber Action
  2/29/2024HouseFiled with the Clerk by Rep. Sharon Chung
  3/5/2024HouseFirst Reading
  3/5/2024HouseReferred to Rules Committee
  3/5/2024HouseAdded Chief Co-Sponsor Rep. Maurice A. West, II
  4/18/2024HouseAdded Co-Sponsor Rep. William "Will" Davis
  4/18/2024HouseAdded Co-Sponsor Rep. Curtis J. Tarver, II
  4/18/2024HouseAdded Co-Sponsor Rep. Joyce Mason
  4/18/2024HouseAdded Chief Co-Sponsor Rep. Stephanie A. Kifowit