EDGE-TRANSFER CREDIT
Sponsored By: Sally J. Turner (Republican)
In Committee
Summary
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.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Sally J. Turner
Republican • Senate
Cosponsors
Chris Balkema
Republican • Senate
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 3-9(a) / Re-referred to Assignments
6/2/2025SenateAdded as Co-Sponsor Sen. Chris Balkema
5/30/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
5/23/2025SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
5/9/2025SenateRule 2-10 Committee Deadline Established As May 9, 2025
4/11/2025SenateRule 2-10 Committee Deadline Established As April 11, 2025
3/21/2025SenateAssigned to Revenue
1/28/2025SenateReferred to Assignments
1/17/2025SenateFirst Reading
1/17/2025SenateFiled with Secretary by Sen. Sally J. Turner
1/17/2025Senate
Bill Text
Introduced
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