LUECHTEFELD. 35 ILCS 5/213 new Amends the Illinois Income Tax Act. Creates a new generation cooperative incentive tax credit. Provides for a credit of the lesser of 50% of a member's investment or $20,000 for each member of a nonprofit cooperative approved by the Department of Revenue and formed for the purpose of operating (i) a facility producing goods derived from an agricultural commodity or using a process to produce goods derived from an agricultural product or (ii) a renewable fuel production facility. The credits allowed for any one new generation cooperative may not exceed $5,000,000. Effective immediately. JAN-29-2002 S FIRST READING JAN-29-2002 S REFERRED TO SENATE RULES COMMITTEE RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary