DIGITAL MEDIA TAX CREDIT House SponsorsRep. Fred Crespo 12/3/2014HouseSession Sine Die New Act35 ILCS 5/224 new Creates the Interactive Digital Media Tax Credit Act. Entitles interactive digital media companies that meet certain requirements to an income tax credit based on the amount of the Illinois labor expenditure and Illinois production spending approved by the Department of Commerce and Economic Opportunity for the production. Authorizes taxpayers to take the credit beginning in the taxable year in which the company has met the investment requirement. Provides for the transfer of credits. Requires the Department to submit a report concerning the program to the General Assembly no later than July 1, 2019. Provides that the Act is repealed on July 1, 2020. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately. 2/14/2014HouseFiled with the Clerk by Rep. Fred Crespo 2/14/2014HouseFirst Reading 2/14/2014HouseReferred to Rules Committee 3/6/2014HouseAssigned to Revenue & Finance Committee 3/11/2014HouseTo Income Tax Subcommittee 3/28/2014HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die