TROTTER-MADIGAN,L-LIGHTFORD, MUNOZ AND SILVERSTEIN.
35 ILCS 5/213 new
Amends the Illinois Income Tax Act to create a tax credit for
individuals in the amount of 5% of the average monthly rent paid by
the taxpayer during the taxable year on his or her residence.
Provides that no amount of rent in excess of $1,000 per month shall be
used in calculating the average monthly rent. Provides that this
credit will be available beginning with tax years ending on or after
December 31, 2001 and ending with tax years ending on or before
December 31, 2005. Effective immediately.
FEB-20-2001 S FIRST READING
FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES
FEB-21-2001 S ASSIGNED TO COMMITTEE REVENUE
MAR-08-2001 S ADDED AS A CHIEF CO-SPONSOR LIGHTFORD
MAR-08-2001 S ADDED AS A CO-SPONSOR MUNOZ
MAR-22-2001 S TO SUBCOMMITTEE
MAR-22-2001 S COMMITTEE REVENUE
MAR-23-2001 S ADDED AS A CO-SPONSOR SILVERSTEIN
MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES
JAN-07-2003 S SESSION SINE DIE
END OF INQUIRY
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