Bill Status of HB3140 100th General Assembly
Short Description: INC TX-RETIREMENT
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. In the case of individuals, trusts, and estates, provides that a deduction for certain retirement income is not allowed if (i) in the case of a taxpayer who is younger than 65 years of age during the taxable year, the taxpayer's adjusted gross income is $80,000 or more and (ii) in the case of a taxpayer who is 65 years of age or older during the taxable year (including a taxpayer who turns 65 years of age during the taxable year), the taxpayer's adjusted gross income is $100,000 or more. Effective immediately.