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IL HB3019

Bill

Official Source

Status

Introduced

2/15/2019

Primary Sponsor

Rita Mayfield

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Extends the hospital credit under the Illinois Income Tax Act from tax years ending December 31, 2012 through December 31, 2025 (previously set to expire December 31, 2017).
  • Allows hospital owners licensed under the Hospital Licensing Act to claim a credit against income taxes equal to the lesser of real property taxes paid on hospital property or the cost of free or discounted charitable services provided during the tax year.
  • Excludes tax-exempt organizations from claiming the credit.
  • Permits excess credits to be carried forward and applied to tax liability in the following 5 taxable years, with earlier credits applied first.
  • Takes effect immediately upon becoming law.

Legislative Description

INCOME TAX-HOSPITAL CREDIT

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/29/2019

Committee Referrals

Rules3/29/2019
Income Tax3/6/2019
Revenue & Finance2/26/2019
Rules2/15/2019

Full Bill Text

No bill text available