OBAMA-MADIGAN,L-WELCH-JONES,E-SHAW, LIGHTFORD AND SILVERSTEIN.
INCOME TX-EARNED INCOME CREDIT
Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act. Increases the earned income
tax credit for taxable years beginning on or after January 1, 2001
from 5% to 10% of the federal earned income tax credit. Provides that
if the amount of the credit exceeds the tax liability for the year,
then the excess credit shall be refunded to the taxpayer. Exempts the
credit from the sunset provisions. Effective immediately.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status