SB 2252 - Temporary Income Tax Increase and Tax Credit for Green Businesses - Illinois Key Vote
Sidney Mathias voted Nay (Passage With Amendment) on this Legislation.
Timeline
- House Bill Failed
- May 31, 2009
- Senate Bill Passed
- April 2, 2009
- Introduced
- Feb. 20, 2009
Related Issues
Stage Details
Title: Temporary Income Tax Increase and Tax Credit for Green Businesses
Vote Smart's Synopsis:
Vote to pass a bill that establishes outlines and benefits for companies designated as green businesses, as well as temporarily raising the income tax for individuals and corporations.
Highlights:
-Outlines requirements for designation as a green business, including location requirements and the commitment to produce renewable energy or produce components that aid in the production of renewable energy (Sec. 10). -Allows Green Energy Businesses to qualify for certain tax credits and exemptions (Sec. 10). -Raises the income tax on individuals, trusts, and estates from 3% to 4.5% from July 1, 2009 until July 1, 2011 (Sec. 5). -Raises the income tax rate on corporations from 4.8% to 7.2% from July 1, 2009 to July 1, 2011 (Sec. 5).
Title: Temporary Income Tax Increase and Tax Credit for Green Businesses