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<xml>
<title>Illinois General Assembly - Bill Status for HB 4608         </title>
<shortdesc>INC TX-YOUTHBUILD</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Derrick Smith</sponsors>
</sponsor>
<lastaction>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/224 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Creates a credit for taxpayers that operate a Youthbuild program in the State during the taxable year. Sets forth the amount of the credit. Provides that, if the amount of the credit exceeds the taxpayer's income tax liability for the applicable tax year, then the excess credit shall be refunded to the taxpayer. Provides that the credit is exempt from the Act's automatic sunset provision.</SynopsisText></synopsis>
<actions>
<statusdate>2/4/2014</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Derrick Smith</action>
<statusdate>2/4/2014</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/4/2014</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/3/2014</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>3/11/2014</statusdate><chamber>House</chamber><action>To Income Tax Subcommittee</action>
<statusdate>3/28/2014</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

