Illinois General Assembly - Bill Status for HB4290
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 Bill Status of HB4290  103rd General Assembly


Short Description:  INC TX-RESIDENTIAL PROP CR

House Sponsors
Rep. Ron Stephens - Thomas Holbrook

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/208from Ch. 120, par. 2-208


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for tax years ending after December 31, 2005, the amount of the income tax credit for residential real property taxes is: (1) 5% of real property taxes paid by the taxpayer to a taxing body other than a school district during the tax year; plus (2) for taxable year 2006, 5% of the real property taxes paid by the taxpayer to a school district during the tax year and to be increased by 5% increments each year thereafter until the credit equals 100% of the real property taxes paid by the taxpayer to a school district during the tax year. Exempts the credit from the Act's sunset provisions. Effective immediately.

Actions 
DateChamber Action
  12/20/2005HouseFiled with the Clerk by Rep. Ron Stephens
  1/4/2006HouseFirst Reading
  1/4/2006HouseReferred to Rules Committee
  1/24/2006HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook
  1/9/2007HouseSession Sine Die

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