Illinois General Assembly - Bill Status for HB4749

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Bill Status of HB4749 93rd General Assembly

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Short Description: INC TAX-END PENSION EXEMPTIONS

House Sponsors
Rep. Jack McGuire

Last Action

Date	Chamber	Action
2/19/2004	House	Tabled By Sponsor Rep. Jack McGuire

Statutes Amended In Order of Appearance

35 ILCS 5/203

from Ch. 120, par. 2-203

35 ILCS 5/204

from Ch. 120, par. 2-204

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2004, the deduction allowed for public employee pension income applies only to the first $40,000 of a public employee pension received during the taxable year. For taxable years ending on or after December 31, 2004 changes the additional exemption for a taxpayer or spouse 65 years or age or older from $1,000 per year to $10,000 per year. Effective immediately.

Actions

Date	Chamber	Action
2/4/2004	House	Filed with the Clerk by Rep. Jack McGuire
2/4/2004	House	First Reading
2/4/2004	House	Referred to Rules Committee
2/19/2004	House	Tabled By Sponsor Rep. Jack McGuire

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