SEVERNS-JACOBS. 35 ILCS 5/204 from Ch. 120, par. 2-204 Amends the Illinois Income Tax. Provides that an individual taxpayer who received severance pay due to the taxpayer's employer's plant closing shall receive an additional exemption up to $35,000 for amounts received as severance pay. Sunsets the exemption after 5 years. 97-01-30 S FIRST READING 97-01-30 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-05 S ASSIGNED TO COMMITTEE REVENUE 97-03-06 S POSTPONED 97-03-06 S COMMITTEE REVENUE 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary