Bill Status of HB3012 101st General Assembly
Short Description: INC TX-CHARITABLE CONTRIBUTION
Rep. Jonathan Carroll - David McSweeney - Daniel Didech - Sam Yingling - Bob Morgan
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the contributions made by the taxpayer to the Illinois Education Excellence Fund during the taxable year. Amends the State Finance Act. Creates the Illinois Education Excellence Fund. Provides that moneys in the Fund shall be used for public education purposes. Amends the Counties Code. Provides that the county board may establish a fund in the county treasury to accept contributions for public purposes. Provides that the county may provide for a credit against the taxpayer's property tax liability in an amount equal to the amount of the contribution. Effective immediately.