State of Illinois
91st General Assembly
Legislation

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91_HB2039

 
                                               LRB9103952PTpk

 1        AN  ACT  to amend the Illinois Income Tax Act by changing
 2    Section 208.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section  5.   The  Illinois  Income Tax Act is amended by
 6    changing Section 208 as follows:

 7        (35 ILCS 5/208) (from Ch. 120, par. 2-208)
 8        Sec. 208. Tax credit for residential real property taxes.
 9    Beginning with tax years ending  on  or  after  December  31,
10    1991,  every  individual  taxpayer shall be entitled to a tax
11    credit equal to 5%  of  real  property  taxes  paid  by  such
12    taxpayer  during  the taxable year on the principal residence
13    of the taxpayer. In  the  case  of  multi-unit  or  multi-use
14    structures  and  farm  dwellings, the taxes on the taxpayer's
15    principal residence shall be that portion of the total taxes
16    that which is attributable to such principal residence.
17    (Source: P.A. 87-17.)

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