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 $10,000,000 in 2011, $25,000,000 in 2012, or $50,000,000 in 2013 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 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately.
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Session Sine Die
Added Co-Sponsor Rep. Mark H. Beaubien, Jr.
Rule 19(a) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Jim Durkin
Added Co-Sponsor Rep. Raymond Poe
Added Co-Sponsor Rep. Rich Brauer
Added Co-Sponsor Rep. Donald L. Moffitt
Added Co-Sponsor Rep. Daniel Biss
Added Co-Sponsor Rep. Joe Sosnowski
Added Co-Sponsor Rep. Chris Nybo
Added Co-Sponsor Rep. Richard Morthland
Added Co-Sponsor Rep. Robyn Gabel
Added Co-Sponsor Rep. Randy Ramey, Jr.
Added Co-Sponsor Rep. Pam Roth
Added Co-Sponsor Rep. Roger L. Eddy
Added Chief Co-Sponsor Rep. Naomi D. Jakobsson
Added Co-Sponsor Rep. Jil Tracy
Added Chief Co-Sponsor Rep. Jim Watson
Added Chief Co-Sponsor Rep. Cynthia Soto
Added Chief Co-Sponsor Rep. William Davis
Assigned to Revenue & Finance Committee
Referred to Rules Committee
Filed with the Clerk by Rep. Robert W. Pritchard
First Reading
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