92nd General Assembly
Summary of SB0266
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Senate Sponsors:
OBAMA-MADIGAN,L-WELCH-JONES,E-SHAW, LIGHTFORD AND SILVERSTEIN.

Short description: 
INCOME TX-EARNED INCOME CREDIT                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Increases the earned  income      
   tax  credit  for  taxable  years beginning on or after January 1, 2001      
   from 5% to 10% of the federal earned income tax credit.  Provides that      
   if the amount of the credit exceeds the tax liability  for  the  year,      
   then the excess credit shall be refunded to the taxpayer.  Exempts the      
   credit from the sunset provisions. Effective immediately.                   
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


   END OF INQUIRY 



 Full Text  Bill Status