91st General Assembly
Summary of SB0864
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Senate Sponsors:

Short description: 
INC TAX-PERSONAL EXEMPT-ADJUST                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that the Department      
   of Revenue must increase the basic amount of the exemption to  reflect      
   the quotient of the total dollar amount for the preceding taxable year      
   of tax credits, deductions, or exemptions for corporate taxpayers that      
   were  allowed due to laws that became effective during the second year      
   preceding the taxable year divided by the  number  of  taxpayers  that      
   were  allowed  the basic amount of the exemption under this subsection      
   in the preceding taxable year.                                              
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

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


 Full Text  Bill Status