HB 4703
Railroad mod credit
Railroad Mod Credit
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
Creates the Short Line Railroad Modernization Act. Creates an income tax credit for taxpayers that incur qualified railroad expenditures or qualified new rail infrastructure expenditures. Sets forth the amount of the credit and limitations on the amount of the credit that may be awarded. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.
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Primary sponsor
Cosponsors
William E Hauter
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