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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6043
Introduced 2/6/2004, by Tom Cross SYNOPSIS AS INTRODUCED:
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35 ILCS 5/208 |
from Ch. 120, par. 2-208 |
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Amends the Illinois Income Tax Act. Makes a technical change in a Section
concerning a tax credit for property taxes.
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A BILL FOR
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HB6043 |
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LRB093 17486 SJM 43155 b |
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| AN ACT in relation to income taxes.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Income Tax Act is amended by |
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| changing Section 208 as
follows:
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| (35 ILCS 5/208) (from Ch. 120, par. 2-208)
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| Sec. 208. Tax credit for residential real property taxes.
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| Beginning with tax years ending on or after December 31, 1991,
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| every individual taxpayer shall be entitled to a tax credit |
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| equal
to 5% of the real property taxes paid by such taxpayer |
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| during the
taxable year on the principal residence of the |
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| taxpayer. In the
case of multi-unit or multi-use structures and |
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| farm dwellings,
the taxes on the taxpayer's principal residence |
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| shall be that
portion of the total taxes which is attributable |
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| to such principal
residence.
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| (Source: P.A. 87-17.)
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