91st General Assembly
Summary of SB1325
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Senate Sponsors:

Short description: 
INC TX-LONG TERM HEALTH CREDIT                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Allows an income tax  credit      
   in  an  amount  equal to 15% of the premium costs paid for a qualified      
   long term care insurance contract covering the individual taxpayer  or      
   the taxpayer's spouse, parent, or dependent.  Provides that the credit      
   may  not  exceed  $200 or the taxpayer's liability, whichever is less.      
   Prohibits the carry-forward of an excess tax credit  to  a  succeeding      
   year's  tax  liability. Exempts the credit from the sunset provisions.      
   Effective January 1, 2001.                                                  
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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