INC TAX CREDIT ID THEFT House SponsorsRep. Emily McAsey-Jack D. Franks-Keith Farnham, Jehan A. Gordon, Deborah Mell and Michael J. Zalewski Senate Sponsors(Sen. Susan Garrett) 1/11/2011HouseSession Sine Die 35 ILCS 5/218 new Amends the Illinois Income Tax Act. Authorizes a credit to taxpayers for an amount equal to 20% of the amount of expenditures by the taxpayer for equipment placed in service during the taxable year for the purpose of preventing identity theft, but not to exceed $100 per article of equipment. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back, but may be carried forward and applied to the tax liability of the 2 taxable years following the excess credit year. Exempt from the Act's sunset provisions. Effective immediately.House Committee Amendment No. 1 Deletes reference to:35 ILCS 5/218 newAdds reference to:35 ILCS 5/203from Ch. 120, par. 2-203Replaces everything after the enacting clause. Creates a deduction (instead of a credit) for individual taxpayers in an amount equal to 10% (instead of 20%) of the amount of expenditures by the taxpayer for equipment and computer software placed in service during the taxable year for the purpose of preventing identity theft, but not to exceed $100 per article of equipment or software. Effective immediately.Fiscal Note, House Committee Amendment No. 1 (Dept. of Revenue) HB 3682 (H-AM 1) is expected to have a maximum fiscal impact on State revenues of approximately $600,000. This is based on 400,000 Illinois residents (the estimated number of Illinois residents subject to identity theft on an annual basis) spending an average of $500 on identity theft protection. 2/24/2009HouseFiled with the Clerk by Rep. Emily McAsey 2/24/2009HouseFirst Reading 2/24/2009HouseReferred to Rules Committee 3/3/2009HouseAssigned to Revenue & Finance Committee 3/12/2009HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-000-000 3/12/2009HouseRemains in Revenue & Finance Committee 3/12/2009HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee 3/12/2009HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote 3/12/2009HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 013-000-000 3/12/2009HousePlaced on Calendar 2nd Reading - Short Debate 3/12/2009HouseAdded Co-Sponsor Rep. Jehan A. Gordon 3/12/2009HouseAdded Co-Sponsor Rep. Deborah Mell 3/12/2009HouseAdded Co-Sponsor Rep. Michael J. Zalewski 3/19/2009HouseSecond Reading - Short Debate 3/19/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/20/2009HouseHouse Committee Amendment No. 1 Fiscal Note Filed as Amended 3/31/2009HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 3/31/2009HouseAdded Chief Co-Sponsor Rep. Keith Farnham 4/1/2009HouseThird Reading - Short Debate - Passed 113-003-000 4/2/2009SenateArrive in Senate 4/2/2009SenatePlaced on Calendar Order of First Reading April 21, 2009 4/13/2009SenateChief Senate Sponsor Sen. Susan Garrett 4/15/2009SenateFirst Reading 4/15/2009SenateReferred to Assignments 4/22/2009SenateAssigned to Revenue 4/30/2009SenateTo Revenue Subcommittee on Special Issues 5/8/2009SenateRule 3-9(a) / Re-referred to Assignments 1/11/2011HouseSession Sine Die