DANIELS-MITCHELL,BILL-O'CONNOR-RIGHTER-BOST, JONES,JOHN, ZICKUS, LYONS,EILEEN, KOSEL, MCAULIFFE, BLACK, COULSON, JOHNSON,TOM, PARKE, PERSICO, SKINNER, TENHOUSE, TURNER,JOHN, MEYER, WOJCIK, LEITCH, STEPHENS, RYDER, CROSS, MOFFITT, MYERS,RICHARD, HASSERT, BEAUBIEN, PANKAU, LAWFER, WIRSING, MITCHELL,JERRY, KLINGLER, BIGGINS, RUTHERFORD, MOORE,ANDREA, POE, WINKEL AND BELLOCK. 35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208.5 new Amends the Illinois Income Tax Act. Provides that in addition to the existing tax credit for residential property, for the 1999 tax year and thereafter, every individual taxpayer whose principal residence has an equalized assessed value as determined by the Department of Revenue of less than $166,667 shall be entitled to an additional tax credit equal to 5% of the real property taxes paid by the taxpayer during the taxable year on the principal residence of the taxpayer. Creates a credit against the taxes imposed under the Act for Subchapter S Corporations and sole proprietorships in an amount equal to 5% of the property taxes paid by the Subchapter S Corporation or sole proprietorship during taxable year on eligible property owned by the corporation or proprietorship. Provides that eligible property has an equalized assessed value of less than (i) $399,000 in counties with 3,000,000 or more inhabitants or (ii) $166,667 in counties with fewer than 3,000,000 inhabitants. Exempts the credits from the sunset provisions. Effective immediately. 98-12-01 H PREFILED WITH CLERK 98-12-01 H ADDED AS A JOINT SPONSOR MITCHELL,BILL 98-12-01 H ADDED AS A JOINT SPONSOR O'CONNOR 98-12-01 H ADDED AS A JOINT SPONSOR RIGHTER 98-12-01 H ADDED AS A JOINT SPONSOR BOST 98-12-01 H ADDED AS A CO-SPONSOR JONES,JOHN 98-12-01 H ADDED AS A CO-SPONSOR SOMMER 98-12-01 H ADDED AS A CO-SPONSOR ZICKUS 98-12-01 H ADDED AS A CO-SPONSOR LYONS,EILEEN 98-12-01 H ADDED AS A CO-SPONSOR KOSEL 98-12-01 H ADDED AS A CO-SPONSOR MCAULIFFE 98-12-01 H ADDED AS A CO-SPONSOR BLACK 98-12-01 H ADDED AS A CO-SPONSOR COULSON 98-12-01 H ADDED AS A CO-SPONSOR COWLISHAW 98-12-01 H ADDED AS A CO-SPONSOR JOHNSON,TOM 98-12-01 H ADDED AS A CO-SPONSOR PARKE 98-12-01 H ADDED AS A CO-SPONSOR PERSICO 98-12-01 H ADDED AS A CO-SPONSOR SKINNER 98-12-01 H ADDED AS A CO-SPONSOR TENHOUSE 98-12-01 H ADDED AS A CO-SPONSOR TURNER,JOHN 98-12-01 H ADDED AS A CO-SPONSOR WINTERS 98-12-01 H ADDED AS A CO-SPONSOR MEYER 98-12-01 H ADDED AS A CO-SPONSOR WOJCIK 98-12-01 H ADDED AS A CO-SPONSOR LEITCH 98-12-01 H ADDED AS A CO-SPONSOR STEPHENS 98-12-01 H ADDED AS A CO-SPONSOR RYDER 98-12-01 H ADDED AS A CO-SPONSOR CROSS 98-12-01 H ADDED AS A CO-SPONSOR MOFFITT 98-12-01 H ADDED AS A CO-SPONSOR DURKIN 98-12-01 H ADDED AS A CO-SPONSOR MYERS,RICHARD 98-12-01 H ADDED AS A CO-SPONSOR HASSERT 98-12-01 H ADDED AS A CO-SPONSOR BEAUBIEN 98-12-01 H ADDED AS A CO-SPONSOR PANKAU 98-12-01 H ADDED AS A CO-SPONSOR LAWFER 98-12-01 H ADDED AS A CO-SPONSOR WIRSING 98-12-01 H ADDED AS A CO-SPONSOR SAVIANO 98-12-01 H ADDED AS A CO-SPONSOR MITCHELL,JERRY 98-12-01 H ADDED AS A CO-SPONSOR KLINGLER 98-12-01 H ADDED AS A CO-SPONSOR BIGGINS 98-12-01 H ADDED AS A CO-SPONSOR RUTHERFORD 98-12-01 H ADDED AS A CO-SPONSOR MOORE,ANDREA 98-12-01 H ADDED AS A CO-SPONSOR LINDNER 98-12-01 H ADDED AS A CO-SPONSOR POE 98-12-01 H ADDED AS A CO-SPONSOR WINKEL 99-01-14 H FIRST READING 99-01-14 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-01-27 H ASSIGNED TO COMMITTEE REVENUE 99-01-28 H ADDED AS A CO-SPONSOR BELLOCK 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary