INC TX-BIOBASED PRODUCTS House SponsorsRep. Ryan Spain 1/7/2025HouseSession Sine Die 35 ILCS 5/241 new Amends the Illinois Income Tax Act. Creates an income tax credit not to exceed 25% of the eligible costs incurred by the taxpayer during the taxable year in connection with the production of a biobased product. Provides that the Department of Commerce and Economic Opportunity shall award the credits. Provides that the total aggregate amount of credits awarded under those provisions shall not exceed $20,000,000 in any State fiscal year. Effective immediately. 1/23/2024HouseFiled with the Clerk by Rep. Ryan Spain 1/31/2024HouseFirst Reading 1/31/2024HouseReferred to Rules Committee 3/5/2024HouseAssigned to Revenue & Finance Committee 3/8/2024HouseTo Revenue-Income Tax Subcommittee 4/2/2024HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Ryan Spain 4/2/2024HouseHouse Committee Amendment No. 1 Referred to Rules Committee 4/3/2024HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee 4/5/2024HouseRule 19(a) / Re-referred to Rules Committee 4/5/2024HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee 1/7/2025HouseSession Sine Die