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SB 2015 Illinois Senate · 95th Regular Session

NEW MARKETS DEVELOPMENT

Summary
Creates the New Markets Development Program Act. Defines terms. Provides that taxpayers that make a qualified equity investment earn a vested right to certain tax credits against income, franchise, and insurance premium taxes. Credits are not transferable. Sets annual caps on credits. Provides for recapture. Authorizes the Department of Commerce and Economic Opportunity to promulgate rules. Sunsets after fiscal year 2012 unless reauthorized by the General Assembly. Contains other provisions. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2008
Committee Review
Nov 2008
Senate Passage
Nov 2008
House Passage
May 2008
Signed into Law
Dec 2008
Introduced Apr 1, 2008 Signed Dec 31, 2008
Floor votes · Senate Nov 13, 2008 · House May 29, 2008

How they voted

52–0
Passed · 2 other
Total votes 54
Nov 13, 2008
D Democratic33
32 Yea 1
96% Yea
R Republican21
20 Yea 1
95% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
67
Key actions
11
Committee
16
Amendments
9
Dec 31, 2008
Signed into law
Governor Approved
upper
Nov 13, 2008
Upper · Passed
Passed Both Houses
upper
Nov 13, 2008
Introduced
House Floor Amendment No. 2 Senate Concurs 057-000-000
upper
Nov 13, 2008
Upper · Passed
House Committee Amendment No. 1 Senate Concurs 057-000-000
upper
Nov 13, 2008
Introduced
House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Revenue; 007-000-000
upper
Nov 13, 2008
Upper · Passed
House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Revenue; 007-000-000
upper
Nov 12, 2008
Committee
House Floor Amendment No. 2 Motion to Concur Rules Referred to Revenue
upper
Nov 12, 2008
Committee
House Committee Amendment No. 1 Motion to Concur Rules Referred to Revenue
upper
Nov 12, 2008
Introduced
Placed on Calendar Order of Concurrence House Amendment(s) November 13, 2008; 01,02
upper
Jul 1, 2008
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Rules
upper
May 30, 2008
Committee
House Floor Amendment No. 2 Motion to Concur Referred to Rules
upper
May 30, 2008
Committee
House Committee Amendment No. 1 Motion to Concur Referred to Rules
upper
May 30, 2008
Introduced
Placed on Calendar Order of Concurrence House Amendment(s) 01,02-May 31, 2008
upper
May 30, 2008
Introduced
Secretary's Desk - Concurrence House Amendment(s) 01,02
upper
May 29, 2008
House · Passed
House Vote: pass (101-0-7)
house
May 28, 2008
Lower · Passed
House Floor Amendment No. 2 Adopted by Voice Vote
lower
May 27, 2008
Lower · Passed
House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
lower
May 22, 2008
Committee
House Floor Amendment No. 2 Referred to Rules Committee
lower
May 22, 2008
Introduced
House Floor Amendment No. 2 Filed with Clerk by Rep. Arthur L. Turner
lower
May 20, 2008
Lower · Passed
Do Pass as Amended / Short Debate Revenue Committee; 008-000-000
lower
May 20, 2008
Lower · Passed
House Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote
lower
May 20, 2008
Introduced
House Committee Amendment No. 1 Filed with Clerk by Revenue Committee
lower
May 9, 2008
Lower · Passed
Committee Deadline Extended-Rule 9(b) May 23, 2008
lower
Apr 30, 2008
Committee
Assigned to Revenue Committee
lower
Apr 2, 2008
Committee
Referred to Rules Committee
lower
Apr 1, 2008
Introduced
Arrived in House
lower
Mar 6, 2008
Upper · Passed
Do Pass Revenue; 007-000-001
upper
Feb 14, 2008
Committee
Assigned to Revenue
upper
Feb 7, 2008
Committee
Referred to Rules
upper
0 primary · 3 co-sponsors

Sponsors

No sponsor information available.