WATSON-CLAYBORNE AND TROTTER. (MOORE,ANDREA-HOWARD-HOLBROOK) 35 ILCS 5/201 from Ch. 120, par. 2-201 Amends the Illinois Income Tax Act. Deletes provision stating that "unreimbursed eligible remediation costs" does not include approved eligible remediation costs that are deducted under the provisions of the Internal Revenue Code or costs that are taken into account in calculating an environmental remediation credit granted against a tax imposed under the Internal Revenue Code. Effective immediately. SENATE AMENDMENT NO. 1. Adds reference to: 35 ILCS 5/203 Further amends the Illinois Income Tax Act. Provides that for individuals, corporations, and trusts and estates, the base income shall include, for taxable years ending after December 31, 1997, an amount equal to any eligible remediation costs that the taxpayer deducted in computing adjusted gross income and for which the taxpayer claimed an environmental remediation credit. FISCAL NOTE (Dept. of Revenue) Fiscal impact cannot be estimated until the number of taxpay- ers taking the federal credit is known. The State's total exposure for the brownfield tax credit enacted last year will remain at $150,000 per qualified site in Illinois. STATE MANDATES ACT FISCAL NOTE Fails to create a State mandate. HOME RULE NOTE Contains no language preempting home rule authority. 98-01-29 S FIRST READING 98-01-29 S REFERRED TO SENATE RULES COMMITTEE RULES 98-02-18 S ASSIGNED TO COMMITTEE REVENUE 98-03-05 S AMENDMENT NO. 01-REVENUE S 98-03-05 S ADOPTED 98-03-05 S DO PASS AS AMENDED 008-000-000 SREV 98-03-05 S PLACED ON CALENDAR ORDER OF 2ND READING 98-03-10 98-03-05 S ADDED AS A CHIEF CO-SPONSOR CLAYBORNE 98-03-12 S SECOND READING 98-03-12 S PLACED ON CALENDAR ORDER OF 3RD READING 98-03-24 98-03-26 S THIRD READING - PASSED 054-000-000 98-03-26 H ARRIVE IN HOUSE 98-03-26 H HOUSE SPONSOR HOWARD 98-03-26 H FIRST READING 98-03-26 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-04-22 H ALTERNATE PRIMARY SPONSOR CHANGED TO MOORE,ANDREA 98-04-22 H ADDED AS A JOINT SPONSOR HOWARD 98-04-22 H ASSIGNED TO COMMITTEE REVENUE 98-04-30 H AMENDMENT NO. 01-REVENUE H 98-04-30 H LOST 005-006-000 98-04-30 H DO PASS/SHORT DEBATE 011-000-000 HREV 98-04-30 H PLACED CALENDAR 2ND READING-SHORT DEBATE 98-04-30 H ADDED AS A JOINT SPONSOR HOLBROOK 98-05-01 H FISCAL NOTE REQUESTED CURRIE 98-05-01 H STATE MANDATES FISCAL NOTE REQUESTED CURRIE 98-05-01 H HOME RULE NOTE REQUESTED CURRIE 98-05-01 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-05 H FISCAL NOTE FILED 98-05-05 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-07 H AMENDMENT NO. 02-MOORE,ANDREA 98-05-07 H AMENDMENT REFERRED TO HRUL 98-05-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-12 H FISCAL NOTE REQUESTED AS AMENDED BY HA #2/CURRIE 98-05-12 H STATE MNDT FISCAL NOTE RQSTD AS AMENDED BY HA #2/CURRIE 98-05-12 H HOME RULE NOTE REQUESTED AS AMENDED BY HA #2/CURRIE 98-05-12 H ST DEBT IMPACT NOTE REQUESTED AS AMENDED BY HA #2/CURRIE 98-05-12 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-13 H STATE MANDATES FISCAL NOTE FILED 98-05-13 H HOME RULE NOTE FILED 98-05-13 H FISCAL NOTE REQUEST-WITHDRAWN CURRIE 98-05-13 H STATE MANDATES FISCAL NOTE REQST-WITHDRN CURRIE 98-05-13 H HOME RULE NOTE REQUEST-WITHDRAWN CURRIE 98-05-13 H ST DEBT IMPACT NOTE-WITHDRAWN CURRIE 98-05-13 H SECOND READING-SHORT DEBATE 98-05-13 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 98-05-14 H TABLED PURSUANT TO RULE 40(a) HA #2 98-05-14 H THIRD READING/SHORT DEBATE/PASSED 116-000-000 98-05-14 S PASSED BOTH HOUSES 98-06-12 S SENT TO THE GOVERNOR 98-08-07 S GOVERNOR APPROVED 98-08-07 S EFFECTIVE DATE 98-08-07 98-08-07 S PUBLIC ACT.............................. 90-0717 END OF INQUIRY Full Text Bill Summary