Sen. Toi W. Hutchinson
Filed: 5/17/2017
 
 

 

 

 
10000SB0009sam005LRB100 06347 HLH 26465 a



1
AMENDMENT TO SENATE BILL 9 




2    AMENDMENT NO. ______. Amend Senate Bill 9, AS AMENDED, by 
3inserting Article 31 in its proper numeric sequence as follows:

 
4
"ARTICLE 31.  INCOME TAX CREDIT-PROPERTY TAX

 
5    Section 5. The Illinois Income Tax Act is amended  by 
6changing Section 208 as follows:
 



7    (35 ILCS 5/208)  (from Ch. 120, par. 2-208)



8    Sec. 208. Tax credit for residential real property taxes. 
9Beginning with tax years ending on or after December 31, 1991,

10every individual taxpayer shall be entitled to a tax credit 
11equal
to 5% of real property taxes paid by such taxpayer during 
12the
taxable year on the principal residence of the taxpayer. In 
13the
case of multi-unit or multi-use structures and farm 
14dwellings,
the taxes on the taxpayer's principal residence 
15shall be that
portion of the total taxes which is attributable 
 
 
10000SB0009sam005- 2 -LRB100 06347 HLH 26465 a

1to such principal
residence. Notwithstanding any other 
2provision of law, for taxable years beginning on or after 
3January 1, 2018, no taxpayer may claim a credit under this 
4Section if the taxpayer's adjusted gross income for the taxable 
5year exceeds (i) $500,000, in the case of spouses filing a 
6joint federal tax return, or (ii) $250,000, in the case of all 
7other taxpayers.

8(Source: P.A. 87-17.)".