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90_HB3094
35 ILCS 5/208 from Ch. 120, par. 2-208
Amends the Property Tax Code. Makes a technical change
in the Section concerning the tax credit for residential
property taxes.
LRB9010582KDgc
LRB9010582KDgc
1 AN ACT to amend the Illinois Income Tax Act by changing
2 Section 208.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 changing Section 208 as follows:
7 (35 ILCS 5/208) (from Ch. 120, par. 2-208)
8 Sec. 208. Tax credit for residential real property
9 taxes. Beginning with tax years ending on or after December
10 31, 1991, every individual taxpayer shall be entitled to a
11 tax credit equal to 5% of real property taxes paid by such
12 taxpayer during the taxable year on the principal residence
13 of the taxpayer. In the case of multi-unit or multi-use
14 structures and farm dwellings, the taxes on the taxpayer's
15 principal residence shall be that portion of the total taxes
16 that which is attributable to such principal residence.
17 (Source: P.A. 87-17.)