92nd General Assembly
Status of HB4250
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 Full Text  Bill Summary

   35 ILCS 5/213 new                                                           

        Amends the Illinois Income Tax Act.  Provides  that  for  taxable      
   years  ending  on  or after December 31, 2002, each taxpayer who is an      
   employer is entitled to a tax credit in an amount equal to 5%  of  the      
   costs  incurred  by  the  taxpayer  during the taxable year to provide      
   long-term care insurance as a part of  an  employee  benefit  package.      
   The  credit,  however, may not exceed the lesser of (i) $5,000 or (ii)      
   $100 for each employee covered by long-term  care  insurance  provided      
   under  the  employee benefit package.  Provides that the credit may be      
   carried forward for 5 taxable years.   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