92nd General Assembly
Status of SB1750
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   SILVERSTEIN.

   35 ILCS 5/213 new                                                           

        Amends the Illinois Income Tax Act.  Allows an income tax  credit      
   in  an  amount  equal to 15% of the premium costs paid for a qualified      
   long term care insurance contract covering the individual taxpayer  or      
   the taxpayer's spouse, parent, or dependent.  Provides that the credit      
   may  not  exceed  $200 or the taxpayer's liability, whichever is less.      
   Prohibits the carry forward of an excess tax credit  to  a  succeeding      
   year's  tax  liability. Exempts the credit from the sunset provisions.      
   Effective immediately.                                                      
   FEB-05-2002  S  FIRST READING                                                  
   FEB-05-2002  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary