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<xml>
<title>Illinois General Assembly - Bill Status for HB 540    </title>
<shortdesc>INC TX-RECYCLE ELECTRNCS-CREDT</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Naomi D. Jakobsson-Mike Boland-Karen May, Karen A. Yarbrough and Robin Kelly</sponsors>
</sponsor>
<lastaction>
<statusdate>1/9/2007</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/216 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Provides that, beginning with taxable years ending on or after December 31, 2005, each taxpayer is entitled to an income tax credit in the amount of fees paid in the taxable year by the taxpayer to a recycler for the acceptance of any electronic equipment surrendered by the taxpayer. Provides that the tax credit may not reduce the taxpayer's liability to less than zero and may not be carried forward or back to apply to any other taxable year. Exempts the credit from the sunset provisions of the Act. Effective July 1, 2005.</SynopsisText></synopsis>
<actions>
<statusdate>1/27/2005</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Naomi D. Jakobsson</action>
<statusdate>1/27/2005</statusdate><chamber>House</chamber><action>Chief Co-Sponsor Rep. Mike Boland</action>
<statusdate>1/27/2005</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>1/27/2005</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/2/2005</statusdate><chamber>House</chamber><action>Assigned to Revenue Committee</action>
<statusdate>2/18/2005</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Karen May</action>
<statusdate>3/2/2005</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Karen A. Yarbrough</action>
<statusdate>3/8/2005</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Robin Kelly</action>
<statusdate>3/10/2005</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/9/2007</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

