House Sponsors: DANIELS-BOST-JONES,JOHN-RIGHTER-KOSEL, BIGGERT, BRADY, CHURCHILL, COULSON, COWLISHAW, JOHNSON,TOM, KRAUSE, MULLIGAN, PARKE, PERSICO, ROSKAM, SKINNER, TENHOUSE, WINTERS, ZICKUS, MEYER, WOJCIK, KUBIK, BERGMAN, LEITCH, RYDER, CROSS, MOFFITT, DURKIN, MYERS, BLACK, HASSERT, BEAUBIEN, NOLAND, BIGGINS, CLAYTON, RUTHERFORD, PANKAU, WIRSING, SAVIANO, MITCHELL, KLINGLER, MOORE,ANDREA, LINDNER, POE WINKEL. Short description: INC TX-RESIDENTIAL CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that in addition to the existing tax credit for residential property, for the 1998 tax year and thereafter, every individual taxpayer whose principal residence has an equalized assessed value as determined by the Department of Revenue of less than $166,666 shall be entitled to an additional tax credit equal to 5% of the real property taxes paid by the taxpayer during the taxable year on the principal residence of the taxpayer. Exempts the additional credit from the sunset provisions. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status