Bill Status of HB3861 94th General Assembly
Short Description: INCOME TX-ARMED SERVICE CREDIT
Rep. Eileen Lyons - Michael Tryon - Michael P. McAuliffe - Roger L. Eddy - Sidney H. Mathias and William B. Black
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2005, each taxpayer is entitled to an income tax credit in the amount of $1,000 per taxable year if, at any time during the taxable year, the taxpayer's spouse served on active duty in the Illinois National Guard or a reserve component of the armed forces of the United States. Allows the credit to be carried forward for 10 years and exempts the credit from the sunset provisions of the Act. Effective immediately.