Income tax, state; public school renovation tax credit. (HB734)
Introduced By
Del. Dave Albo (R-Springfield)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; public school renovation tax credit. Provides an income tax credit to taxpayers that undertake and complete a public school renovation, in accordance with the provisions of the Public-Private Education Facilities and Infrastructure Act, for taxable years beginning on and after January 1, 2010. The amount of the credit is 25 percent of the taxpayer's eligible renovation expenses but cannot exceed $1 million in any one taxable year. Also, there is a cap of $100 million on the total amount of credits that may be allowed for all taxpayers in a taxable year. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/12/2010 | Committee |
01/12/2010 | Prefiled and ordered printed; offered 01/13/10 10103349D |
01/12/2010 | Referred to Committee on Finance |
01/19/2010 | Assigned Finance sub: #3 |
01/24/2010 | Impact statement from TAX (HB734) |
01/25/2010 | Assigned Finance sub: #3 |
01/29/2010 | Subcommittee recommends continuing to 2011 (4-Y 0-N) |
02/01/2010 | Continued to 2011 in Finance |