Bill Status of HB 5103   95th General Assembly


Short Description:  INC TX-BACK-TO-SCHOOL CREDIT

House Sponsors
Rep. Jack D. Franks

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/218 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for individual taxpayers who purchase qualified merchandise during the period from 12:01 a.m. on the first Friday in August through midnight of the Sunday that follows 9 days later. Sets the amount of the credit at an amount equal to 6.25% of the purchase. Defines "qualified merchandise" as any article of clothing or footwear or computer that is sold at or below certain selling prices. Sets forth criteria for transactions to qualify for the credit. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

Actions 
DateChamber Action
  2/13/2008HouseFiled with the Clerk by Rep. Jack D. Franks
  2/14/2008HouseFirst Reading
  2/14/2008HouseReferred to Rules Committee
  3/3/2008HouseAssigned to Revenue Committee
  3/14/2008HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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