Illinois 94th Regular Session Status: In Committee

HB 554 — INC TAX-EDGE CREDIT-EXTEND

Last action — Added Co-Sponsor Rep. Careen M Gordon

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

This bill died with 94th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the duration of the credit may not exceed 15 (now, 10) taxable years. In provisions setting forth requirements for applicants for the credit, provides that for projects determined to be eligible because they meet the investment and new employee criteria established by the Department of Commerce and Economic Opportunity, the Department shall approve those that will provide a return on the State's investment. Amends the Illinois Income Tax Act to make the commensurate change extending the duration of the credit to 15 years. Effective immediately.

Bill Text

Action History

  1. Added Co-Sponsor Rep. Careen M Gordon

  2. Added Chief Co-Sponsor Rep. Lisa M. Dugan

  3. Tabled By Sponsor Rep. William B. Black

  4. Motion Prevailed

  5. Motion Filed Rep. William B. Black; Table House Bill 554 Pursuant to Rule 60(b)

  6. Added Co-Sponsor Rep. Daniel V. Beiser

  7. Assigned to Revenue Committee

  8. Referred to Rules Committee

  9. First Reading

  10. Filed with the Clerk by Rep. William B. Black

Sponsors

  • William B. Black · Cosponsor

Sponsorship breakdown

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

Sponsors (0)

None.

Co-sponsors (1)

  • William B. Black

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 HB 554 do?
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the duration of the credit may not exceed 15 (now, 10) taxable years. In provisions setting forth requirements for applicants for the credit, provides that for projects determined to be eligible because they meet the investment and new employee criteria established by the Department of Commerce and Economic Opportunity, the Department shall approve those that will provide a return on the State's investment. Amends the Illinois Income Tax Act to make the commensurate change extending the duration of the credit to 15 years. Effective immediately.
Who sponsors HB 554?
HB 554 is sponsored by William B. Black.
What is the current status of HB 554?
This bill died with 94th 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 HB 554?
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Last checked for changes 3 months ago · updated continuously

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