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Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that certain taxpayers that are primarily engaged in the recycling and melting of steel products and in the manufacturing of new steel wire and rod products may elect to claim the credit under the Act against their withholding tax liability instead of their income tax liability. Effective immediately.
Introduced
Feb 6, 2025
Last Action
Mar 21, 2025
Session
IL 104th
Sponsors
1 primary · 3 co
Rule 19(a) / Re-referred to Rules Committee
Added Chief Co-Sponsor Rep. Jehan Gordon-Booth
To Tax Policy: Other Taxes Subcommittee
Assigned to Revenue & Finance Committee
Added Co-Sponsor Rep. Ryan Spain
First reading {Corrected}
Added Co-Sponsor Rep. Travis Weaver
Referred to Rules Committee
First Reading
Filed with the Clerk by Rep. Sharon Chung
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 19(a) / Re-referred to Rules Committee