91st General Assembly
Summary of HB2688
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House Sponsors:

Short description: 
INC TX-CLASS EXPENSE CREDIT                                                

Synopsis of Bill as introduced:
        Amends the  Illinois  Income  Tax  Act.   Grants  elementary  and      
   secondary  school teachers a credit against the tax imposed by the Act      
   in an amount equal to personal expenditures made by the  taxpayer  for      
   teaching materials.  Provides that the amount of the credit is limited      
   to  $500  or  the  individual's  tax  liability,  whichever  is  less.      
   Prohibits  the  carry  forward of an excess tax credit to a succeeding      
   taxable year.  Exempts the credit from the Act's  sunset  requirement.      
   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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