Senate Sponsors: PETERSON-MADIGAN,R-PARKER-KLEMM-MYERS,J. Short description: INC TX-LONG TERM HEALTH CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Allows an income tax credit in an amount equal to 15% of the premium costs paid for a qualified long term care insurance contract covering the individual taxpayer or the taxpayer's spouse, parent, or dependent. Provides that the credit may not exceed $200 or 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 credit from the sunset provisions. Effective January 1, 2001. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status