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IL HB4131

Bill

Official Source

Status

Failed

1/8/2019

Primary Sponsor

Kelly Cassidy

Click for details

Origin

House of Representatives

100th General Assembly

AI Summary

  • Creates the Transparency in Economic Development Incentives Act to regulate tax incentives offered to Amazon.com, Inc. by the Department of Revenue
  • Caps tax incentives for Amazon's corporate headquarters development in Illinois at $50,000 per job created
  • Defines "tax incentive" to include exemptions, exclusions, deductions, credits, preferential rates, abatements, and other devices that reduce state tax revenues
  • Grants the Department of Revenue authority to adopt rules and implement the Act
  • Establishes that state economic development incentives must be rationally related to the foreseeable public benefit of the proposed development

Legislative Description

AMAZON-TAX INCENTIVE CAP

Last Action

Session Sine Die

1/8/2019

Committee Referrals

Rules4/13/2018
Income Tax4/12/2018
Revenue & Finance3/5/2018
Rules10/24/2017

Full Bill Text

No bill text available