91st General Assembly
Status of SB1325
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 Full Text  Bill Summary

   35 ILCS 5/212 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, 2001.                                                  
   00-01-12  S  FIRST READING                                                  
   00-01-12  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   00-01-12  S  ADDED AS A CHIEF CO-SPONSOR              MADIGAN,R             
   00-01-19  S  ADDED AS A CHIEF CO-SPONSOR              PARKER                
   00-01-20  S  ADDED AS A CHIEF CO-SPONSOR              KLEMM                 
   00-02-10  S  ADDED AS A CHIEF CO-SPONSOR              MYERS,J               
   00-04-15  S            RULED EXEMPT UNDER SENATE RULE 3-9(B)        SRUL    
   00-04-15  S       ASSIGNED TO COMMITTEE               REVENUE               
   01-01-09  S  SESSION SINE DIE                                               


 Full Text  Bill Summary