Lou Lang
- Democratic
Primary
Amends the Illinois Income Tax Act. Authorizes a credit to taxpayers who are wind turbine manufacturers equal to 30% of the Illinois income tax attributable to income from the sale of wind turbines. A taxpayer may claim the credit for only one taxable year. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back, but may be carried forward and applied to the tax liability of the 3 taxable years following the excess credit year. Effective immediately.
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Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Assigned to Revenue & Finance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Lou Lang
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