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.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status