92nd General Assembly
Status of HB4248
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 Full Text  Bill Summary

   35 ILCS 5/213 new                                                           

        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, 2003.                                                  
   JAN-30-2002  H  FILED WITH CLERK                                               
   JAN-30-2002  H  FIRST READING                                                  
   JAN-30-2002  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary