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<xml>
<title>Illinois General Assembly - Bill Status for HB 4847         </title>
<shortdesc>INC TX-DIGITAL MEDIA CREDIT</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Margaret Croke</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>New Act</reference><aliasreference></aliasreference><reference>35 ILCS 5/241 new</reference><aliasreference></aliasreference><SynopsisText>     Creates the Interactive Digital Media Tax Credit Act. Entitles interactive digital media companies that meet certain requirements to an income tax credit in the amount of 30% of certain expenses incurred by the applicant for an accredited production in a taxable year. 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. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/6/2024</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Margaret Croke</action>
<statusdate>2/7/2024</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/7/2024</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/28/2024</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>3/8/2024</statusdate><chamber>House</chamber><action>To Revenue-Income Tax Subcommittee</action>
<statusdate>4/5/2024</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

