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

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

1. Jan 17, 2025SenateFiled with Secretary by Sen. Sally J. Turner
2. Jan 17, 2025SenateFirst Reading
3. Jan 17, 2025CommitteeReferred to Assignments · Senate Assignments
4. Jan 28, 2025CommitteeAssigned to Revenue · Senate Revenue
5. Mar 21, 2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
6. Apr 11, 2025SenateRule 2-10 Committee Deadline Established As May 9, 2025
7. May 9, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
8. May 23, 2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
9. May 30, 2025SenateAdded as Co-Sponsor Sen. Chris Balkema
10. Jun 2, 2025CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Republican.

• Sally J. TurnerR Primary sponsor · District 44