Bill Status of HB4684 94th General Assembly
Short Description: TAX CREDIT-VOLUNTR FIREFIGHTER
Rep. Rich Brauer - Lisa M. Dugan - Thomas Holbrook and Careen M Gordon
| 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, 2006, each taxpayer who was a member in good standing of a volunteer fire department during the entire taxable year is entitled to an income tax credit. Provides that the credit may not exceed $500 or the amount of the taxpayer's liability, whichever is less. Prohibits the carry forward of an excess tax credit to a succeeding year's tax liability. Exempts the provisions from the sunset requirements. Effective immediately.