WELCH, KARPIEL, NOLAND, PARKER, LIGHTFORD,
HALVORSON, GEO-KARIS AND BOWLES.
35 ILCS 5/212 new
Amends the Illinois Income Tax Act. Creates the earned income
tax credit. Provides that each individual taxpayer is entitled to a
credit against the tax imposed by the Act in an amount equal to a
specified percentage of the federal earned income tax credit allowed.
Provides that if the amount of the credit exceeds the tax liability
for the year, then the excess credit shall be refunded to the
taxpayer. Provides that the Department of Revenue shall calculate the
amount of the earned income credit upon the request of a taxpayer.
00-01-27 S FIRST READING
00-01-27 S REFERRED TO SENATE RULES COMMITTEE RULES
00-02-08 S ADDED AS A CO-SPONSOR NOLAND
00-03-01 S ADDED AS A CO-SPONSOR PARKER
00-03-07 S ADDED AS A CO-SPONSOR LIGHTFORD
00-03-07 S ADDED AS A CO-SPONSOR MADIGAN,L
00-03-15 S ADDED AS A CO-SPONSOR HALVORSON
00-03-15 S ADDED AS A CO-SPONSOR GEO-KARIS
00-03-22 S ADDED AS A CO-SPONSOR BOWLES
01-01-09 S SESSION SINE DIE
END OF INQUIRY
Full Text Bill Summary