Illinois Compiled Statutes (Tax)
35 ILCS 25/5
Findings and purpose
Official textilga.gov
Sec. 5. Findings and purpose. The General Assembly finds that the Illinois economy is mired in one of the worst economic recessions it has ever suffered. Small businesses in particular have been hit hard by the economy, resulting in levels of high unemployment throughout the State. In order to reverse the trend of high unemployment and to help spur the economy to recovery, it is necessary to assist and encourage small businesses in the hiring of new employees. (Source: P.A. 96-888, eff. 4-13-10.)
Source: view the official text
Nearby sections (25 sections)
- 17/10-40 · Issuance of Tax Credit Award Certificate
- 17/10-45 · Amount and payment of the tax credit award
- 17/10-50 · Live theater tax credit award program evaluation and reports
- 17/10-55 · Program terms and conditions
- 17/10-80 · (Amendatory provisions; text omitted)
- 20/35-1 · Short title
- 20/35-5 · Tax Shelter Voluntary Compliance Program
- 20/35-10 · "Tax avoidance transaction" defined
- 20/35-15 · Use of evidence of participation in the program
- 20/35-90 · (Amendatory provisions; text omitted)
- 20/99-99 · Effective date
- 25/1 · Short title
- 25/5 · Findings and purpose
- 25/10 · Definitions
- 25/15 · Powers of the Department
- 25/20 · Certificate of eligibility for tax credit
- 25/25 · Tax credit
- 25/30 · Maximum amount of credits allowed
- 25/35 · Application for award of tax credit; tax credit certificate
- 25/40 · Submission of tax credit certificate to Department of Revenue
- 25/45 · Noncompliance with Act
- 25/50 · Rules
- 25/90 · (Amendatory provisions; text omitted)
- 25/999 · Effective date
- 105/1 · This Act shall be known and may be cited as the "Use Tax Act"