Senate Sponsors: LUECHTEFELD. Short description: INCOME TAX-AG CO-OP CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Creates a new generation cooperative incentive tax credit. Provides for a credit of the lesser of 50% of a member's investment or $20,000 for each member of a nonprofit cooperative approved by the Department of Revenue and formed for the purpose of operating (i) a facility producing goods derived from an agricultural commodity or using a process to produce goods derived from an agricultural product or (ii) a renewable fuel production facility. The credits allowed for any one new generation cooperative may not exceed $5,000,000. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status