91st General Assembly
Summary of HB2687
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House Sponsors:

Short description: 
PROPERTY TAX CREDIT-SURPLUS                                                

Synopsis of Bill as introduced:
        Creates the Property  Tax  Surplus  Credit  Act  and  amends  the      
   Illinois  Income  Tax Act.  Provides that for any fiscal year in which      
   the revenues into the State's general funds exceed  the  prior  year's      
   general  funds  revenues  by  more than $750,000,000, the excess funds      
   shall be deposited into the Property Tax Surplus Credit Fund. Provides      
   that the Fund shall be used by the Department of Revenue  to  increase      
   the  income  tax  credit  for  residential property.  Amends the State      
   Finance Act to create the Fund.  Effective immediately.                     
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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