92nd General Assembly Summary of HB1065    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
BOLAND-FORBY-FOWLER-MCKEON.

Short description: 
INC TAX-EARNED INC CREDIT-25%                                              

Synopsis of Bill as introduced:
        Amends the Illinois Income  Tax  Act.   Provides  that  for  each      
   taxable  year  beginning  on or after January 1, 2001, each individual      
   taxpayer is entitled to an income tax credit in an amount equal to 25%      
   of the federal earned income tax credit  (now,  5%).   Eliminates  the      
   repeal  of  these  provisions  scheduled for June 1, 2003 and provides      
   that the credit is exempt from  the  sunset  provisions  of  the  Act.      
   Effective immediately.                                                      
 
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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