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| | SB0398 Engrossed | | LRB097 04210 HLH 44249 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. If and only if Senate Bill 4 of the 97th General |
| 5 | | Assembly, as amended by House Amendment 3, becomes law, then |
| 6 | | the Film Production Services Tax Credit Act of 2008 is amended |
| 7 | | by changing Section 42 as follows:
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| 8 | | (35 ILCS 16/42) |
| 9 | | Sec. 42. Sunset of credits. The application of credits |
| 10 | | awarded pursuant to this Act shall be limited by a reasonable |
| 11 | | and appropriate sunset date. A taxpayer shall not be entitled |
| 12 | | to take a credit awarded pursuant to this Act for tax years |
| 13 | | beginning on or after 10 5 years after the effective date of |
| 14 | | this amendatory Act of the 97th General Assembly. After the |
| 15 | | initial 10-year sunset, the General Assembly may extend the |
| 16 | | sunset date by 5-year intervals.
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| 17 | | (Source: 09700SB0004ham003.)
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| 18 | | Section 99. Effective date. This Act takes effect upon |
| 19 | | becoming law, but no earlier than the effective date of Senate |
| 20 | | Bill 4 of the 97th General Assembly.
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