Illinois General Assembly - Bill Status for HB0240
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 Bill Status of HB0240  93rd General Assembly

Short Description:  INCOME TAX-TEACHER DEDUCT $30K

House Sponsors
Rep. Jack D. Franks - Harry Osterman and Deborah L. Graham

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/203from Ch. 120, par. 2-203


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides for an income tax deduction, for taxable years ending on or after December 31, 2003 and on or before December 30, 2013, for individual taxpayers in the amount of $30,000, if the income was earned by a teacher while teaching at the elementary or secondary level during the taxable year. Administrators are not eligible for the deduction. Effective immediately.

 Fiscal Note (Illinois Department of Revenue)
 House Bill 240 will create an expected revenue loss to the State of Illinois of at least $135 million per tax year.

Actions 
DateChamber Action
  1/23/2003HouseFiled with the Clerk by Rep. Jack D. Franks
  1/23/2003HouseFirst Reading
  1/23/2003HouseReferred to Rules Committee
  1/29/2003HouseAssigned to Revenue Committee
  1/30/2003HouseAdded Chief Co-Sponsor Rep. Harry Osterman
  2/5/2003HouseFiscal Note Filed
  2/28/2003HouseAdded Co-Sponsor Rep. Deborah L. Graham
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005HouseSession Sine Die

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