Illinois General Assembly - Bill Status for SB0261
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 Bill Status of SB0261  102nd General Assembly


Short Description:  INC TAX-CREDITS

Senate Sponsors
Sen. Jacqueline Y. Collins - Miguel del Valle - Ira I. Silverstein - Carole Pankau - Iris Y. Martinez, John O. Jones, Dave Sullivan and Donne E. Trotter

Last Action
DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/212


Synopsis As Introduced
Amends the Illinois Income Tax Act. Increases the amount of the earned income tax credit from 5% of the federal credit to: (i) 10% of the federal tax credit for taxable years beginning on or after January 1, 2005; (ii) 15% of the federal tax credit for taxable years beginning on or after January 1, 2007; and (iii) 20% of the federal tax credit for taxable years beginning on or after January 1, 2009. Effective immediately.

Actions 
DateChamber Action
  2/3/2005SenateFiled with Secretary by Sen. Jacqueline Y. Collins
  2/3/2005SenateChief Co-Sponsor Sen. Miguel del Valle
  2/3/2005SenateChief Co-Sponsor Sen. Ira I. Silverstein
  2/3/2005SenateChief Co-Sponsor Sen. Carole Pankau
  2/3/2005SenateChief Co-Sponsor Sen. Iris Y. Martinez
  2/3/2005SenateCo-Sponsor Sen. John O. Jones
  2/3/2005SenateCo-Sponsor Sen. Dave Sullivan
  2/3/2005SenateFirst Reading
  2/3/2005SenateReferred to Rules
  2/17/2005SenateAssigned to Revenue
  2/24/2005SenatePostponed - Revenue
  2/24/2005SenateAdded as Co-Sponsor Sen. Donne E. Trotter
  3/3/2005SenateHeld in Revenue
  3/18/2005SenateRule 3-9(a) / Re-referred to Rules
  1/9/2007SenateSession Sine Die

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