Bill Status of HB4398 95th General Assembly
Short Description: INC TX-CLASSROOM SUPPLY CREDIT
Rep. Dennis M. Reboletti - Harry R. Ramey, Jr. - Franco Coladipietro, Sandy Cole, Jil Tracy, Patricia R. Bellock, Sidney H. Mathias, Robert F. Flider, Daniel V. Beiser, Jack D. Franks, Linda Chapa LaVia, Fred Crespo, Elizabeth Hernandez and Edward J. Acevedo
| 1/13/2009||House||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.