Illinois General Assembly - Bill Status for SB2540
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 Bill Status of SB2540  93rd General Assembly


Short Description:  INC TX-TEACHER TAX CREDIT

Senate Sponsors
Sen. Kimberly A. Lightford

Last Action
DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/216 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Allows taxpayers who are teachers at qualifying schools to take a credit against the taxpayer's income tax. The amount of the credit ranges from $250 to $1,500 depending upon the years of services as a teacher at a qualifying school. Provides that the credit may not reduce a taxpayer's tax liability to less than zero. Provides that unused credits may not be carried forward. Effective immediately.

Actions 
DateChamber Action
  2/3/2004SenateFiled with Secretary by Sen. Kimberly A. Lightford
  2/3/2004SenateFirst Reading
  2/3/2004SenateReferred to Rules
  1/11/2005SenateSession Sine Die

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