Fabio
131 lines
8.2 KiB
Markdown
131 lines
8.2 KiB
Markdown
---
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type: "Bill"
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title: "NEW MARKETS DEVELOPMENT"
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description: "Creates the New Markets Development Program Act. Defines terms. Provides that taxpayers that make a qualified equity investment earn a vested right to certain tax credits against income, franchise, and insurance premium taxes. Credits are not transferable. Sets annual caps on credits. Provides for recapture. Authorizes the Department of Commerce and Economic Opportunity to promulgate rules. Sunsets after fiscal year 2012 unless reauthorized by the General Assembly. Contains other provisions. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "95th"
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identifier: "SB 2015"
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citation: "Illinois SB 2015 (95th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 67
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vote_count: 4
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first_action: "2008-02-07"
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last_action: "2008-12-31"
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source: "openstates"
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source_identifier: "ocd-bill/c985252e-b08e-49ba-b3ba-8a1d251127eb"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2015&GAID=9&DocTypeID=SB&LegId=35380&SessionID=51&GA=95"
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source_hash: "5213ba157d3d9734836f493066e39b808f8986cbb24184960887792abb9ea553"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 2015 (95th) — NEW MARKETS DEVELOPMENT
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Creates the New Markets Development Program Act. Defines terms. Provides that taxpayers that make a qualified equity investment earn a vested right to certain tax credits against income, franchise, and insurance premium taxes. Credits are not transferable. Sets annual caps on credits. Provides for recapture. Authorizes the Department of Commerce and Economic Opportunity to promulgate rules. Sunsets after fiscal year 2012 unless reauthorized by the General Assembly. Contains other provisions. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09500SB2015&GA=95&SessionId=51&DocTypeId=SB&LegID=35380&DocNum=2015&GAID=9&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09500SB2015eng&GA=95&SessionId=51&DocTypeId=SB&LegID=35380&DocNum=2015&GAID=9&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09500SB2015enr&GA=95&SessionId=51&DocTypeId=SB&LegID=35380&DocNum=2015&GAID=9&Session=&print=true)
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## Votes
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- Concurrence — **57–0** (pass) · upper
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- Third Reading — **110–0** (pass) · lower
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- Concurrence, Amendment 2 — **57–0** (pass) · upper
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- Third Reading — **52–0** (pass) · upper
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## Sponsors
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- Eddie Washington — cosponsor (person)
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- James F. Clayborne, Jr. — primary (person)
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- Milton Patterson — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2008-02-07** Filed with Secretary by Sen. James F. Clayborne, Jr. `filing`
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- **2008-02-07** First Reading `reading-1`
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- **2008-02-07** Referred to Rules `referral-committee`
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- **2008-02-14** Assigned to Revenue `referral-committee`
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- **2008-02-20** Added as Chief Co-Sponsor Sen. Michael W. Frerichs
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- **2008-02-21** Added as Co-Sponsor Sen. Bill Brady
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- **2008-02-28** Postponed - Revenue
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- **2008-03-06** Do Pass Revenue; 007-000-001 `committee-passage`
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- **2008-03-06** Placed on Calendar Order of 2nd Reading March 11, 2008
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- **2008-03-06** Added as Chief Co-Sponsor Sen. Chris Lauzen
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- **2008-03-11** Added as Co-Sponsor Sen. Pamela J. Althoff
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- **2008-03-12** Second Reading `reading-2`
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- **2008-03-12** Placed on Calendar Order of 3rd Reading March 13, 2008
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- **2008-04-01** Third Reading - Passed; 052-000-000 `reading-3, passage`
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- **2008-04-01** Arrived in House `introduction`
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- **2008-04-01** Placed on Calendar Order of First Reading `reading-1`
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- **2008-04-02** Chief House Sponsor Rep. Arthur L. Turner
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- **2008-04-02** First Reading `reading-1`
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- **2008-04-02** Referred to Rules Committee `referral-committee`
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- **2008-04-30** Assigned to Revenue Committee `referral-committee`
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- **2008-05-09** Committee Deadline Extended-Rule 9(b) May 23, 2008
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- **2008-05-20** Moved to Suspend Rule 25 Rep. Barbara Flynn Currie
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- **2008-05-20** Motion to Suspend Rule 25 - Prevailed
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- **2008-05-20** House Committee Amendment No. 1 Filed with Clerk by Revenue Committee `amendment-introduction`
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- **2008-05-20** House Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote `amendment-passage`
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- **2008-05-20** Do Pass as Amended / Short Debate Revenue Committee; 008-000-000 `committee-passage`
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- **2008-05-20** Placed on Calendar 2nd Reading - Short Debate
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- **2008-05-20** Second Reading - Short Debate `reading-2`
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- **2008-05-20** Held on Calendar Order of Second Reading - Short Debate `reading-2`
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- **2008-05-22** House Floor Amendment No. 2 Filed with Clerk by Rep. Arthur L. Turner `amendment-introduction`
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- **2008-05-22** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
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- **2008-05-23** Final Action Deadline Extended-9(b) May 31, 2008
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- **2008-05-27** House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
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- **2008-05-28** House Floor Amendment No. 2 Adopted by Voice Vote `amendment-passage`
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- **2008-05-28** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2008-05-29** Added Alternate Chief Co-Sponsor Rep. LaShawn K. Ford
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- **2008-05-29** Added Alternate Chief Co-Sponsor Rep. Monique D. Davis
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- **2008-05-29** Added Alternate Chief Co-Sponsor Rep. Mike Boland
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- **2008-05-29** Added Alternate Chief Co-Sponsor Rep. Charles E. Jefferson
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- **2008-05-29** Added Alternate Co-Sponsor Rep. Milton Patterson
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- **2008-05-29** Added Alternate Co-Sponsor Rep. Eddie Washington
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- **2008-05-29** Third Reading - Short Debate - Passed 110-000-000 `reading-3, passage`
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- **2008-05-30** Secretary's Desk - Concurrence House Amendment(s) 01,02
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- **2008-05-30** Placed on Calendar Order of Concurrence House Amendment(s) 01,02-May 31, 2008
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- **2008-05-30** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr. `filing`
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- **2008-05-30** House Committee Amendment No. 1 Motion to Concur Referred to Rules `referral-committee`
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- **2008-05-30** House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr. `filing`
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- **2008-05-30** House Floor Amendment No. 2 Motion to Concur Referred to Rules `referral-committee`
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- **2008-05-30** House Committee Amendment No. 1 Motion to Non-Concur Filed with Secretary Sen. James F. Clayborne, Jr. `filing`
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- **2008-05-30** House Floor Amendment No. 2 Motion to Non-Concur Filed with Secretary Sen. James F. Clayborne, Jr. `filing`
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- **2008-07-01** Pursuant to Senate Rule 3-9(b) / Referred to Rules `referral-committee`
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- **2008-11-12** Approved for Consideration Rules
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- **2008-11-12** Placed on Calendar Order of Concurrence House Amendment(s) November 13, 2008; 01,02
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- **2008-11-12** House Committee Amendment No. 1 Motion to Concur Rules Referred to Revenue `referral-committee`
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- **2008-11-12** House Floor Amendment No. 2 Motion to Concur Rules Referred to Revenue `referral-committee`
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- **2008-11-13** House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Revenue; 007-000-000
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- **2008-11-13** House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Revenue; 007-000-000
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- **2008-11-13** 3/5 Vote Required
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- **2008-11-13** House Committee Amendment No. 1 Senate Concurs 057-000-000
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- **2008-11-13** 3/5 Vote Required
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- **2008-11-13** House Floor Amendment No. 2 Senate Concurs 057-000-000
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- **2008-11-13** Added as Chief Co-Sponsor Sen. Donne E. Trotter
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- **2008-11-13** Passed Both Houses
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- **2008-12-12** Sent to the Governor `executive-receipt`
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- **2008-12-31** Governor Approved `executive-signature`
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- **2008-12-31** Effective Date December 31, 2008
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- **2008-12-31** Public Act . . . . . . . . . 95-1024 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c985252e-b08e-49ba-b3ba-8a1d251127eb`. Confidence: reported (aggregated from official Illinois legislature records).
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