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 Bill Status of SB0744  100th General Assembly


Short Description:  INC TX-EARNED INCOME CREDIT

Senate Sponsors
Sen. Jacqueline Y. Collins - Iris Y. Martinez - Wm. Sam McCann and Omar Aquino

Last Action
DateChamber Action
  3/17/2017SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 5/212


Synopsis As Introduced
Amends the Illinois Income Tax Act. Increases the earned income tax credit to (i) 12% of the federal tax credit for each taxable year beginning on or after January 1, 2017 and beginning prior to January 1, 2018, (ii) 14% of the federal tax credit for each taxable year beginning on or after January 1, 2018 and beginning prior to January 1, 2019, (iii) 16% of the federal tax credit for each taxable year beginning on or after January 1, 2019 and beginning prior to January 1, 2020, (iv) 18% of the federal tax credit for each taxable year beginning on or after January 1, 2020 and ending prior January 1, 2021, and (v) 20% of the federal tax credit for each taxable year beginning on or after January 1, 2021. Effective immediately.

Actions 
DateChamber Action
  1/30/2017SenateFiled with Secretary by Sen. Jacqueline Y. Collins
  1/30/2017SenateFirst Reading
  1/30/2017SenateReferred to Assignments
  2/8/2017SenateAssigned to Revenue
  2/16/2017SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  2/17/2017SenateAdded as Co-Sponsor Sen. Omar Aquino
  2/22/2017SenateTo Subcommittee on Income Taxes
  3/9/2017SenateAdded as Chief Co-Sponsor Sen. Wm. Sam McCann
  3/17/2017SenateRule 3-9(a) / Re-referred to Assignments

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