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, 2002.
FEB-05-2001 H FILED WITH CLERK
FEB-05-2001 H FIRST READING
FEB-05-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES
FEB-07-2001 H ASSIGNED TO COMMITTEE REVENUE
FEB-07-2001 H ADDED AS A JOINT SPONSOR BOLAND
FEB-16-2001 H ADDED AS A JOINT SPONSOR GARRETT
FEB-16-2001 H ADDED AS A JOINT SPONSOR FLOWERS
MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL
JAN-07-2003 H SESSION SINE DIE
END OF INQUIRY
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