92nd General Assembly
Summary of HB4250
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Short description: 
INC TAX CREDIT-LONG-TERM CARE                                              

Synopsis of Bill as introduced:
        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.                              
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


 Full Text  Bill Status