Illinois General Assembly - Bill Status for SB2624
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 Bill Status of SB2624  103rd General Assembly


Short Description:  INC TX-RENTAL PAYMENTS

Senate Sponsors
Sen. Natalie Toro - Willie Preston

Last Action
DateChamber Action
  1/24/2024SenateAssigned to Revenue

Statutes Amended In Order of Appearance
35 ILCS 5/241 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for certain qualified 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 that dwelling. Effective immediately.

Actions 
DateChamber Action
  10/24/2023SenateFiled with Secretary by Sen. Natalie Toro
  10/24/2023SenateFirst Reading
  10/24/2023SenateReferred to Assignments
  11/3/2023SenateAdded as Chief Co-Sponsor Sen. Willie Preston
  1/24/2024SenateAssigned to Revenue

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