Bill Status of HB0630 100th General Assembly
Short Description: INC TX-EITC
Rep. David Harris
| 3/31/2017||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for each taxable year beginning on or after January 1, 2017, the earned income tax credit shall be 15% (currently, 10%) of the federal tax credit. Provides that, if the amount of the earned income tax credit exceeds the taxpayer's income tax liability, then 50% of the excess credit amount shall be refunded to the taxpayer (currently, the entire excess credit amount is refundable). Effective immediately.