92nd General Assembly
Summary of HB0159
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House Sponsors:
KRAUSE-COULSON-OSMOND-LYONS,EILEEN-GARRETT, MAY, 
   KLINGLER, CURRY,JULIE, MCCARTHY AND O'BRIEN.

Short description: 
INC TAX CREDIT-LONG-TERM CARE                                              

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides  that  for  taxable      
   years  ending  on  or after December 31, 2001, each taxpayer who is an      
   employer is entitled to a tax credit in an amount equal to 5%  of  the      
   costs  incurred  by  the  taxpayer  during the taxable year to provide      
   long-term care insurance as a part of  an  employee  benefit  package.      
   The  credit,  however, may not exceed the lesser of (i) $5,000 or (ii)      
   $100 for each employee covered by long-term  care  insurance  provided      
   under  the  employee benefit package.  Provides that the credit may be      
   carried forward for 5 taxable years.   Exempts  the  credit  from  the      
   sunset provisions.  Effective January 1, 2002.                              
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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