Bill Title: Creates the Technology Zone Act. Provides that counties and municipalities may designate technology zones within their jurisdiction, subject to approval by the Department of Commerce and Economic Opportunity. Provides that a qualified technology business located in a technology zone may apply to the Department of Commerce and Economic Opportunity for certification as a technology business. Provides that those certified technology businesses are entitled to credits against taxes and charges imposed under the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, the Retailers' Occupation Tax Act, the Electricity Excise Tax Law, or the Public Utilities Act. Amends those Acts to make conforming changes. Amends the Illinois Income Tax Act. Provides that a certified technology business that makes an investment in qualified property during the taxable year is entitled to an income tax credit in an amount equal to 0.5% of the amount of the investment. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3894 Detail]

Text: Latest bill text (Introduced) [HTML]

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