Illinois General Assembly - Bill Status for HB4741
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 Bill Status of HB4741  96th General Assembly


Short Description:  INC TX-PROP TX CREDIT-DISABLED

House Sponsors
Rep. Jack D. Franks

Last Action
DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/208from Ch. 120, par. 2-208


Synopsis As Introduced
Amends the Illinois Income Tax Act. In a Section granting a tax credit for residential real property taxes, provides that, for tax years beginning on or after January 1, 2011, if the taxpayer qualifies for the disabled persons' homestead exemption under the Property Tax Code, then the taxpayer is entitled to a credit equal to 10% (instead of 5%) of real property taxes paid by the taxpayer during the taxable year on the qualifying property. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Exempts the credit from the Act's automatic sunset provision. Effective immediately.

Actions 
DateChamber Action
  1/4/2010HouseFiled with the Clerk by Rep. Jack D. Franks
  1/11/2010HouseFirst Reading
  1/11/2010HouseReferred to Rules Committee
  1/11/2011HouseSession Sine Die

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