PETERSON-MADIGAN,R-O'MALLEY-SULLIVAN-RADOGNO, NOLAND, KLEMM, LAUZEN, FAWELL, SIEBEN, PARKER, DILLARD, KARPIEL. (BRUNSVOLD-LANG-MOORE,ANDREA-MCAULIFFE-OSMOND) 35 ILCS 5/211 new Amends the Illinois Income Tax Act. Allows an income tax credit in an amount equal to 15% of the premium costs paid for a qualified long term care insurance contract covering the individual taxpayer or the taxpayer's spouse, parent, or dependent. Provides that the credit may not exceed $200 or the taxpayer's liability, whichever is less. Prohibits the carry forward of an excess tax credit to a succeeding year's tax liability. Exempts the credit from the sunset provisions. Effective January 1, 2000. FISCAL NOTE (Department of Revenue) Each of the 200,000 policy-holders will qualify for the maximum $200 credit, for an estimated fiscal impact of $40 million. HOUSE AMENDMENT NO. 1. Deletes everything. Amends the Illinois Income Tax Act. Creates a tax credit for long term care insurance premiums with the caption as the only provision. 99-02-02 S FIRST READING 99-02-02 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-03 S ASSIGNED TO COMMITTEE REVENUE 99-02-17 S ADDED AS A CO-SPONSOR MYERS,J 99-02-17 S ADDED AS A CHIEF CO-SPONSOR O'MALLEY 99-02-17 S ADDED AS A CHIEF CO-SPONSOR SULLIVAN 99-02-17 S ADDED AS A CHIEF CO-SPONSOR RADOGNO 99-02-18 S POSTPONED 99-02-18 S ADDED AS A CO-SPONSOR NOLAND 99-02-26 S TO SUBCOMMITTEE 99-02-26 S ADDED AS A CO-SPONSOR KLEMM 99-03-04 S FISCAL NOTE REQUESTED PETERSON 99-03-11 S DO PASS 009-000-000 SREV 99-03-11 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-16 99-03-11 S ADDED AS A CO-SPONSOR LAUZEN 99-03-11 S ADDED AS A CO-SPONSOR FAWELL 99-03-17 S FISCAL NOTE FILED 99-03-17 S SECOND READING 99-03-17 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-18 99-03-17 S ADDED AS A CO-SPONSOR SIEBEN 99-03-18 S ADDED AS A CO-SPONSOR PARKER 99-03-18 S ADDED AS A CO-SPONSOR DILLARD 99-03-18 S ADDED AS A CO-SPONSOR BURZYNSKI 99-03-18 S ADDED AS A CO-SPONSOR KARPIEL 99-03-18 S THIRD READING - PASSED 059-000-000 99-03-18 H ARRIVE IN HOUSE 99-03-18 H HOUSE SPONSOR BRUNSVOLD 99-03-18 H ADDED AS A JOINT SPONSOR LANG 99-03-18 H ADDED AS A JOINT SPONSOR MOORE,ANDREA 99-03-18 H ADDED AS A JOINT SPONSOR MCAULIFFE 99-03-18 H PLACED CALENDAR ORDER OF FIRST READING 99-03-19 H FIRST READING 99-03-19 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-03-25 H ADDED AS A JOINT SPONSOR OSMOND 99-04-14 H ASSIGNED TO COMMITTEE REVENUE 99-04-29 H AMENDMENT NO. 01-REVENUE H 99-04-29 H ADOPTED 99-04-29 H DO PASS AMENDED/SHORT DEBATE 008-000-000 HREV 99-04-29 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-05-04 H SECOND READING-SHORT DEBATE 99-05-04 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-05 H THIRD READING/SHORT DEBATE/PASSED 093-022-000 99-05-06 S SECRETARYS DESK - CONCURRENCE 01 99-05-11 S FILED WITH SECRETARY 99-05-11 S MOTION NON-CONCUR - HOUSE AMENDMENT NO 01-PETERSON 99-05-12 S SEN NON-CONCURS IN HSE AMENDMENTS (NO.) 01 99-05-12 H ARRIVE IN HOUSE 99-05-12 H PLACED CALENDAR ORDER NON-CONCURRENCE 01 99-05-18 H MOTION REFUSE RECEDE - HSE AMEND NO 01/BRUNSVOLD 99-05-18 H CALENDAR ORDER OF NON-CONCURRENCE 01 99-06-29 H RE-REFERRED TO RULES COMM/RULE 19(B) RULES HRUL 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary