Robert W. Pritchard
- Republican
Primary
Creates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize may not exceed $50,000,000 in 2009, $75,000,000 in 2010, or $100,000,000 in 2011 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 3 years. Exempts the credit from the Act's sunset provisions. Effective immediately.
No votes to display
Session Sine Die
Added Co-Sponsor Rep. Jil Tracy
Rule 19(a) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Kenneth Dunkin
Added Co-Sponsor Rep. Naomi D. Jakobsson
Added Co-Sponsor Rep. Mike Boland
Added Co-Sponsor Rep. Dave Winters
Added Co-Sponsor Rep. Elizabeth Hernandez
Added Co-Sponsor Rep. Kay Hatcher
Added Co-Sponsor Rep. Linda Chapa LaVia
Added Co-Sponsor Rep. Paul D. Froehlich
Added Co-Sponsor Rep. William Davis
Assigned to Revenue & Finance Committee
Referred to Rules Committee
First Reading
Added Chief Co-Sponsor Rep. Cynthia Soto
Added Chief Co-Sponsor Rep. Robert F. Flider
Filed with the Clerk by Rep. Robert W. Pritchard
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Document | Format |
|---|---|
| No related documents. |
Data on Open States is updated periodically throughout the day from the official website of the Illinois General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.