BERMAN, SILVERSTEIN AND LIGHTFORD.
INC TX-RENT CREDIT
Synopsis of Bill as introduced:
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.
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