Illinois General Assembly - Bill Status for HB3332

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Bill Status of HB3332 98th General Assembly

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Short Description: INC TX-YOUNG FARMERS

House Sponsors
Rep. Charles E. Meier and Kelly M. Cassidy

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/224 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that each taxpayer who qualifies as a young farmer is allowed a credit of $1,000 for the taxable year in which the taxpayer first purchases real property that will be used for agricultural production. Provides that the term "young farmer" means an individual who is 35 years of age or younger and who derives a minimum of 50% of his or her income from farming. Effective immediately.

Actions

Date	Chamber	Action
2/26/2013	House	Filed with the Clerk by Rep. Charles E. Meier
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/11/2013	House	Assigned to Revenue & Finance Committee
3/19/2013	House	Added Co-Sponsor Rep. Kelly M. Cassidy
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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