91st General Assembly
Summary of SB1308
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Senate Sponsors:

Short description: 
TX CREDIT-RL ESTATE-EARNED INC                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Grants individual  taxpayers      
   a tax credit equal to 10% (now, 5%) of real property taxes paid during      
   the year.  Provides that the amount  of  an  excess  credit  shall  be      
   refunded to the taxpayer. Exempts this tax credit from the Act's            
   sunset provisions. For taxable years 2000 through 2004, creates             
   another credit for an individual in the amount of 20% of the federal        
   earned income tax credit for that individual. Effective immediately.        
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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