Bill Status of SB2624 95th General Assembly
Short Description: INC TX-CLASSROOM SUPPLY CREDIT
Sen. Dan Cronin
| 1/13/2009||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Allows an income tax credit for each individual taxpayer who is a teacher teaching in a school in Illinois. Provides that the amount of the credit is equal to 50% of the eligible classroom expenses made by the taxpayer during the taxable year, but the credit may not exceed $500. Defines "eligible classroom expenses" as the aggregate amount of nonreimbursed classroom expenses made by the taxpayer during the taxable year less $250. 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.
|Date||Chamber|| Action|| 2/15/2008||Senate||Filed with Secretary by Sen. Dan Cronin|| 2/15/2008||Senate||First Reading|| 2/15/2008||Senate||Referred to Rules|| 1/13/2009||Senate||Session Sine Die|