IL HB3025 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-03-29 - House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Creates the School Building Rehabilitation Tax Credit Act. Creates an income tax credit equal to 25% of the qualified expenditures incurred by a qualified taxpayer undertaking a qualified rehabilitation plan of a vacant school building. Provides that, to be eligible for the credit, the taxpayer must apply with the Department of Revenue. Provides that the credit is subject to certain limitations. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Tracking Information

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Title

SCHOOL BUILDING REHABILITATION

Sponsors


History

DateChamberAction
2019-03-29HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2019-03-29HouseRule 19(a) / Re-referred to Rules Committee
2019-03-27HouseAdded Chief Co-Sponsor Rep. Arthur Turner
2019-03-26HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2019-03-22HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2019-03-22HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jehan Gordon-Booth
2019-03-06HouseTo Income Tax Subcommittee
2019-02-26HouseAssigned to Revenue & Finance Committee
2019-02-15HouseReferred to Rules Committee
2019-02-15HouseFirst Reading
2019-02-15HouseFiled with the Clerk by Rep. Jehan Gordon-Booth

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355229New CodeSee Bill Text

Illinois State Sources


Bill Comments

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