91st General Assembly
Status of SB0456
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 Full Text  Bill Summary

   35 ILCS 5/211 new                                                           

        Amends the Illinois Income Tax Act to create  a  tax  credit  for      
   individuals  in  the  amount of 5% of the average monthly rent paid by      
   the taxpayer  during  the  taxable  year  on  his  or  her  residence.      
   Provides that no amount of rent in excess of $1,000 per month shall be      
   used  in  calculating  the  average  monthly rent.  Provides that this      
   credit will be available beginning with tax years ending on  or  after      
   December  31,  1999  and  ending  with  tax  years ending on or before      
   December 31, 2003.  Effective immediately.                                  
   99-02-18  S  FIRST READING                                                  
   99-02-18  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   99-02-24  S       ASSIGNED TO COMMITTEE               REVENUE               
   99-02-24  S  ADDED AS A CO-SPONSOR                    LIGHTFORD             
   99-03-04  S       TO SUBCOMMITTEE                                           
   99-03-04  S                   COMMITTEE               REVENUE               
   99-03-20  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   01-01-09  S  SESSION SINE DIE                                               


 Full Text  Bill Summary