91st General Assembly
Summary of SB1625
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Short description: 
INC TAX-SOUNDPROOFING CREDIT                                               

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that,  for  taxable      
   years 2000 through 2004, each taxpayer who owns property in an airport      
   noise  zone  is entitled to an income tax credit in an amount equal to      
   5% of the amount spent by the taxpayer, up to  $10,000  in  a  taxable      
   year,  to  soundproof that property.  Provides that the tax credit may      
   not reduce the taxpayer's liability to  less  than  zero  but  may  be      
   carried forward for 5 taxable years. 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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