TROTTER-MADIGAN,L-LIGHTFORD, MUNOZ AND SILVERSTEIN. 35 ILCS 5/213 new Amends the Illinois Income Tax Act to create a tax credit for individuals in the amount of 5% of the average monthly rent paid by the taxpayer during the taxable year on his or her residence. Provides that no amount of rent in excess of $1,000 per month shall be used in calculating the average monthly rent. Provides that this credit will be available beginning with tax years ending on or after December 31, 2001 and ending with tax years ending on or before December 31, 2005. Effective immediately. FEB-20-2001 S FIRST READING FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-21-2001 S ASSIGNED TO COMMITTEE REVENUE MAR-08-2001 S ADDED AS A CHIEF CO-SPONSOR LIGHTFORD MAR-08-2001 S ADDED AS A CO-SPONSOR MUNOZ MAR-22-2001 S TO SUBCOMMITTEE MAR-22-2001 S COMMITTEE REVENUE MAR-23-2001 S ADDED AS A CO-SPONSOR SILVERSTEIN MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary