Illinois General Assembly - Full Text of SB3000
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Full Text of SB3000  102nd General Assembly

SB3000 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB3000

 

Introduced 1/5/2022, by Sen. Cristina Castro

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 40/65

    Amends the Invest in Kids Act. Provides that the Act applies for taxable years ending before January 1, 2023 (currently, January 1, 2024). Makes a corresponding change concerning the repeal of the Act.


LRB102 21791 HLH 30910 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB3000LRB102 21791 HLH 30910 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Invest in Kids Act is amended by changing
5Section 65 as follows:
 
6    (35 ILCS 40/65)
7    (Section scheduled to be repealed on January 1, 2025)
8    Sec. 65. Credit period; repeal.
9    (a) A taxpayer may take a credit under this Act for tax
10years beginning on or after January 1, 2018 and ending before
11January 1, 2023 January 1, 2024. A taxpayer may not take a
12credit pursuant to this Act for tax years beginning on or after
13January 1, 2023 January 1, 2024.
14    (b) This Act is repealed on January 1, 2024 January 1,
152025.
16(Source: P.A. 102-16, eff. 6-17-21.)