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91_HB0016
LRB9100394PTbd
1 AN ACT to amend the Illinois Income Tax Act by changing
2 Section 208.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 changing Section 208 as follows:
7 (35 ILCS 5/208) (from Ch. 120, par. 2-208)
8 Sec. 208. Tax credit for residential real property taxes.
9 Beginning with tax years ending on or after December 31,
10 1991, every individual taxpayer shall be entitled to a tax
11 credit equal to 5% of the real property taxes paid by such
12 taxpayer during the taxable year on the principal residence
13 of the taxpayer. In the case of multi-unit or multi-use
14 structures and farm dwellings, the taxes on the taxpayer's
15 principal residence shall be that portion of the total taxes
16 which is attributable to such principal residence.
17 (Source: P.A. 87-17.)