Illinois 102nd Regular Session Status: In Committee Bipartisan · 8 D · 2 R cosponsors

SB 2052 — REVENUE-ENDOW ILLINOIS

Last action — Session Sine Die

  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 102nd 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. 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 of Revenue may authorize may not exceed $10,000,000 in 2022, $25,000,000 in 2023, or $50,000,000 in 2024 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department of Revenue 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. Further amends the Illinois Income Tax Act to provide that provisions concerning the unrelated business taxable income of an exempt organization apply for taxable years beginning on or after January 1, 2021 (currently, January 1, 2019). Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Added as Chief Co-Sponsor Sen. Dale Fowler

  3. Added as Co-Sponsor Sen. Linda Holmes

  4. Added as Co-Sponsor Sen. Robert Peters

  5. Added as Co-Sponsor Sen. Jil Tracy

  6. Added as Co-Sponsor Sen. Jacqueline Y. Collins

  7. Added as Co-Sponsor Sen. Celina Villanueva

  8. Added as Chief Co-Sponsor Sen. David Koehler

  9. Added as Chief Co-Sponsor Sen. Ram Villivalam

  10. Added as Chief Co-Sponsor Sen. Sara Feigenholtz

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

  12. To Credits, Deductions, and Exemptions

  13. Assigned to Revenue

  14. Referred to Assignments

  15. First Reading

  16. Filed with Secretary by Sen. Omar Aquino

Sponsors

Sponsorship breakdown

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1 sponsors · 9 co-sponsors · 173 not signed on

Sponsors (1)

Co-sponsors (9)

Not signed on (173)

173 members have not signed on to this bill.

Show all 173 →

"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
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 2052 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 of Revenue may authorize may not exceed $10,000,000 in 2022, $25,000,000 in 2023, or $50,000,000 in 2024 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department of Revenue 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. Further amends the Illinois Income Tax Act to provide that provisions concerning the unrelated business taxable income of an exempt organization apply for taxable years beginning on or after January 1, 2021 (currently, January 1, 2019). Effective immediately.
Who sponsors SB 2052?
SB 2052 is sponsored by Omar Aquino (Democrat), Sara Feigenholtz (Democrat), Ram Villivalam (Democrat), David Koehler (Democrat), Celina Villanueva (Democrat), Jil Tracy (Republican), Robert Peters (Democrat), Linda Holmes (Democrat), Lakesia Collins (Democrat), and Dale Fowler (Republican).
What is the current status of SB 2052?
This bill died with 102nd 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 2052?
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