INC TX-CAPITAL GAINS CREDIT House SponsorsRep. Dwight Kay 12/3/2014HouseSession Sine Die 35 ILCS 5/224 new Amends the Illinois Income Tax Act. Provides that a taxpayer shall be allowed an income tax credit equal to 50% of the taxpayer's qualified investments in a qualified business during the taxable year. Defines "qualified investments" and "qualified business". Provides that any credit not usable for the taxable year may be carried over for the next 15 succeeding taxable years. Provides that the amount of tax credit available for a calendar year shall be $5,000,000. Effective immediately. 2/13/2014HouseFiled with the Clerk by Rep. Dwight Kay 2/13/2014HouseFirst Reading 2/13/2014HouseReferred to Rules Committee 12/3/2014HouseSession Sine Die