Bill Status of HB5082 102nd General Assembly
Short Description: INC TX-RENTAL PAYMENTS
Rep. Michael J. Zalewski
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for individual taxpayers who rent a dwelling in Illinois for use as their principal place of residence. Provides that the credit shall be equal to 5% of the documented rental costs paid by such taxpayer during the taxable year on the principal place of residence of the taxpayer. Effective immediately.