Illinois 97th Regular Session Status: In Committee

SB 3365 — ENDOWMENT DONATION CREDIT

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 97th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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 2012, $25,000,000 in 2013, or $50,000,000 in 2014 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.

Bill Text

Action History

  1. Session Sine Die

  2. Chief Sponsor Changed to Sen. Antonio Muñoz

  3. Sponsor Removed Sen. Antonio Muñoz

  4. Added as Co-Sponsor Sen. John M. Sullivan

  5. Rule 3-9(a) / Re-referred to Assignments

  6. Added as Co-Sponsor Sen. Wm. Sam McCann

  7. Added as Co-Sponsor Sen. Christine J. Johnson

  8. Rule 2-10 Committee Deadline Established As March 30, 2012

  9. To Revenue Subcommittee on Tax Credits

  10. Added as Co-Sponsor Sen. Mike Jacobs

  11. Added as Co-Sponsor Sen. Kirk W. Dillard

  12. Added as Co-Sponsor Sen. Dan Kotowski

  13. Added as Co-Sponsor Sen. Darin M. LaHood

  14. Added as Chief Co-Sponsor Sen. Antonio Muñoz

  15. Added as Chief Co-Sponsor Sen. Pamela J. Althoff

  16. Assigned to Revenue

  17. Referred to Assignments

  18. First Reading

  19. Filed with Secretary by Sen. Toi W. Hutchinson

Sponsors

  • Antonio Muñoz · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Antonio Muñoz

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

What does SB 3365 do?
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 2012, $25,000,000 in 2013, or $50,000,000 in 2014 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.
Who sponsors SB 3365?
SB 3365 is sponsored by Antonio Muñoz.
What is the current status of SB 3365?
This bill died with 97th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 3365?
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Last checked for changes 3 months ago · updated continuously

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