Dwight Kay
- Republican
Primary
Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit equal to 50% of the taxpayer's qualified investments in a qualified business during the taxable year. Defines "qualified investments" and "qualified business". Provides that any credit not usable for the taxable year may be carried over for the next 15 succeeding taxable years. Provides that the amount of tax credit available for a calendar year shall be $5,000,000. Effective immediately.
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Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
To Income Tax Subcommittee
Assigned to Revenue & Finance Committee
Referred to Rules Committee
First Reading
Filed with the Clerk by Rep. Dwight Kay
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