Full Text of SB0309 095th General Assembly
SB0309eng 95TH GENERAL ASSEMBLY
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| AN ACT concerning rural technology.
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| Be it enacted by the People of the State of Illinois, | 3 |
| represented in the General Assembly:
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| Section 1. Short title. This Act may be cited as the Rural | 5 |
| Technology
Development
Zone Act.
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| Section 5. Zones established.
Subject to appropriation, | 7 |
| the Department of Commerce and Economic Opportunity
(DCEO)
may | 8 |
| implement a pilot program to designate 3 rural areas in the | 9 |
| State as rural
technology
development zones. The pilot program | 10 |
| shall be in areas that are underserved
with
respect to | 11 |
| technology development. DCEO shall determine which 3 | 12 |
| underserved
areas
shall be designated as technology | 13 |
| development zones in consultation with the
Illinois
Commerce | 14 |
| Commission.
In designating
the zones,
DCEO shall specify by | 15 |
| rule, based upon the needs and assessment
inventory, the
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| specific technology infrastructure needs of each rural | 17 |
| technology development
zone and the
types of investments that | 18 |
| will meet those needs. For each rural technology
development | 19 |
| zone
designated under this Section, DCEO shall further specify | 20 |
| all of the
following:
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| (1) The boundaries of the rural technology development | 22 |
| zone.
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| (2) The potential for increasing wireless |
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| telecommunications and Internet access within the rural
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| technology
development zone.
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| (3) The specific technology infrastructure required to | 4 |
| provide adequate
wireless telecommunications and Internet | 5 |
| access within the zone and any unique needs or | 6 |
| characteristics of the
zone.
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| (4) The specific investments in technology | 8 |
| infrastructure that will
qualify
for income tax credits in | 9 |
| the zone under Section 218 of the Illinois Income Tax
Act.
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| (5) Any other information DCEO deems pertinent.
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| Section 10. Report to the General Assembly. DCEO
shall | 12 |
| submit a report to the General Assembly on or before September
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| 1,
2008 outlining the progress, if any, in improving wireless | 14 |
| telecommunications and Internet access within rural
technology
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| development zones. The report shall include, but is not limited | 16 |
| to, the
following
information:
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| (1) An analysis of the changes made in technology | 18 |
| infrastructure in the
rural technology development zones | 19 |
| to improve wireless telecommunications and Internet access | 20 |
| and the effects
of
those changes.
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| (2) Any available statistics concerning the amount of | 22 |
| investments made in
rural technology development zones.
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| Section 15. Rules. DCEO shall adopt any rules
necessary | 24 |
| for the administration of this Act.
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| Section 90. The Illinois Income Tax Act is amended by | 2 |
| adding Section 218 as
follows:
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| (35 ILCS 5/218 new)
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| Sec. 218. Rural technology development zone tax credit.
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| (a) For taxable years beginning on or after January 1, 2007 | 6 |
| and ending on or before December 30, 2013, each taxpayer is | 7 |
| entitled to a credit against the tax imposed by
subsections (a) | 8 |
| and
(b) of Section 201 in an amount equal to 10% of the amount | 9 |
| of the total
investment made
during the taxable year by the | 10 |
| taxpayer in technology infrastructure required
to provide
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| wireless telecommunications or Internet access in rural | 12 |
| technology development zones. This credit may be
claimed only | 13 |
| for
specific capital investments in technology infrastructure | 14 |
| that will qualify for
income tax
credits in the development | 15 |
| zone as specified by the Department of Commerce and
Economic | 16 |
| Opportunity
under
item (4) of Section 5 of the Rural Technology | 17 |
| Development Zone Act. The credit
claimed
by a taxpayer under | 18 |
| this Section may not exceed $100,000 in any one taxable
year.
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| (b) If the credit allowed under this Section exceeds the | 20 |
| income taxes
otherwise
due on the claimant's income, the amount | 21 |
| of the credit not used as an offset
against
income taxes may be | 22 |
| carried forward as a tax credit against subsequent years'
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| income tax
liability for a period not to exceed 10 years and | 24 |
| must be applied first to the
earliest years
possible.
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| (c) The credit awarded under this Section is limited as | 2 |
| follows:
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| (1) The credit claimed may not exceed $100,000 per | 4 |
| year. Qualified
investments in excess of $1,000,000 in any | 5 |
| tax year cannot earn a credit and
cannot be carried | 6 |
| forward.
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| (2) A partnership, S corporation, or other similar | 8 |
| pass-through entity or
a
disregarded entity may pass | 9 |
| through up to $100,000 in total credit to its
partners,
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| shareholders, or members. Each partner, shareholder, or | 11 |
| member's portion of the
credit is determined according to | 12 |
| the ratio in which profits or losses of the
entity
are | 13 |
| allocated.
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| Section 99. Effective date. This Act takes effect upon | 15 |
| becoming law. |
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