91st General Assembly
Summary of SB0862
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Senate Sponsors:

Short description: 
INDEX PERSONAL EXEMPTION                                                   

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that  the  standard      
   exemption  basic  amount  for  individuals,  the additional amount for      
   individuals, and the amounts of the additional exemptions allowed if a      
   taxpayer or a taxpayer's spouse is 65 years of age or older  or  blind      
   shall  be  subject  to  annual  adjustments equal to the percentage of      
   increase in the previous calendar year in  the  Consumer  Price  Index      
   published  by  the  United  States  Department of Labor or a successor      
   index adopted by the  Department  of  Revenue  by  rule.  Exempts  the      
   additional  amounts  from  the sunset provisions of the Act. Effective      
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

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


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