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Synopsis As Introduced Amends the Illinois Income Tax Act. Allows a tax credit of up to $2,000 for an individual taxpayer who pays the burial expenses for a fetus for which a fetal death certificate has been issued. Provides that the credit (i) may be taken by only one taxpayer with respect to any one fetal death, (ii) may not be carried forward or back, and (iii) may not reduce the taxpayer's liability to less than zero. Requires the Department of Revenue to adopt rules concerning the credit. Effective immediately.
Deletes everything after the enacting clause. Amends the Illinois Income Tax Act. Allows an income tax deduction of up to $2,000 for an individual taxpayer in an amount equal to the burial expenses incurred during the taxable year for a fetus for which a fetal death certificate has been issued. Provides that the deduction may be taken by only one taxpayer with respect to any one fetal death. Requires the Department of Revenue to adopt rules concerning the deduction. Effective immediately.
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