Sen. John F. Curran
Filed: 4/4/2019
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 1050




2    AMENDMENT NO. ______. Amend Senate Bill 1050 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Illinois Income Tax Act is amended  by 
5changing Section 208 as follows:
 



6    (35 ILCS 5/208)  (from Ch. 120, par. 2-208)



7    Sec. 208. Tax credit for residential real property taxes. 
8For Beginning with tax years ending on or after December 31, 
91991 and ending before December 31, 2019,
every individual 
10taxpayer shall be entitled to a tax credit equal
to 5% of real 
11property taxes paid by such taxpayer during the
taxable year on 
12the principal residence of the taxpayer. For tax years ending 
13on or after December 31, 2019, every individual taxpayer shall 
14be entitled to a tax credit equal
to 15% of real property taxes 
15paid by such taxpayer during the
taxable year on the principal 
16residence of the taxpayer. In the
case of multi-unit or 
 
 
10100SB1050sam001- 2 -LRB101 06571 HLH 59336 a

1multi-use structures and farm dwellings,
the taxes on the 
2taxpayer's principal residence shall be that
portion of the 
3total taxes which is attributable to such principal
residence. 
4Notwithstanding any other provision of law, for taxable years 
5beginning on or after January 1, 2017, no taxpayer may claim a 
6credit under this Section if the taxpayer's adjusted gross 
7income for the taxable year exceeds (i) $500,000, in the case 
8of spouses filing a joint federal tax return, or (ii) $250,000, 
9in the case of all other taxpayers. This Section is exempt from 
10the provisions of Section 250. 

11(Source: P.A. 100-22, eff. 7-6-17.)

 

12    Section 99. Effective date. This Act takes effect upon 
13becoming law.".