EDGE-TRANSFER CREDIT

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the recipient of a credit under the Act may apply for a certificate of transferability of credit from the Department of Commerce and Economic Opportunity for the amount of the credit not previously claimed. Provides that the transferability certificate may be transferred or sold by the recipient to another Illinois taxpayer. Provides that unused Economic Development for a Growing Economy tax credits may be carried forward for a period of 10 years (currently, 5 years). Makes other changes.

Every action

6 steps, oldest first, as the legislature records them.

1. Feb 9, 2023SenateFiled with Secretary by Sen. Sally J. Turner
2. Feb 9, 2023SenateFirst Reading
3. Feb 9, 2023CommitteeReferred to Assignments · Senate Assignments
4. Feb 21, 2023CommitteeAssigned to Revenue · Senate Revenue
5. Mar 10, 2023CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
6. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

• Sally J. TurnerR Primary sponsor · District 44