ENDOWMENT DONATION CREDIT Senate SponsorsSen. Antonio Muņoz-Pamela J. Althoff, Darin M. LaHood, Dan Kotowski, Kirk W. Dillard, Mike Jacobs, Christine J. Johnson, Wm. Sam McCann and John M. Sullivan 1/8/2013SenateSession Sine Die New Act35 ILCS 5/223 newCreates the Endow Illinois Tax Credit Act and amends the Illinois Income Tax Act. Requires the Department of Revenue to authorize an income tax credit to taxpayers who provide an endowment gift to a permanent endowment fund. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize may not exceed $10,000,000 in 2012, $25,000,000 in 2013, or $50,000,000 in 2014 and each calendar year thereafter. Provides conditions for eligibility. Requires the Department to make an annual report concerning the credits. Provides that the credit may be carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately. 2/7/2012SenateFiled with Secretary by Sen. Toi W. Hutchinson 2/7/2012SenateFirst Reading 2/7/2012SenateReferred to Assignments 2/17/2012SenateAssigned to Revenue 2/21/2012SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff 2/23/2012SenateAdded as Chief Co-Sponsor Sen. Antonio Muņoz 2/24/2012SenateAdded as Co-Sponsor Sen. Darin M. LaHood 2/28/2012SenateAdded as Co-Sponsor Sen. Dan Kotowski 2/28/2012SenateAdded as Co-Sponsor Sen. Kirk W. Dillard 2/29/2012SenateAdded as Co-Sponsor Sen. Mike Jacobs 3/1/2012SenateTo Revenue Subcommittee on Tax Credits 3/9/2012SenateRule 2-10 Committee Deadline Established As March 30, 2012 3/22/2012SenateAdded as Co-Sponsor Sen. Christine J. Johnson 3/28/2012SenateAdded as Co-Sponsor Sen. Wm. Sam McCann 3/30/2012SenateRule 3-9(a) / Re-referred to Assignments 4/3/2012SenateAdded as Co-Sponsor Sen. John M. Sullivan 11/21/2012SenateSponsor Removed Sen. Antonio Muņoz 11/21/2012SenateChief Sponsor Changed to Sen. Antonio Muņoz 1/8/2013SenateSession Sine Die