House Sponsors: NOVAK. Short description: INC TX-POLITICAL DONATION CRDT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that, beginning with taxable years ending on or after December 31, 2001 and ending with taxable years ending on or before December 30, 2006, each individual taxpayer who contributes a donation to a political campaign in the taxable year is entitled to a tax credit in the amount of (i) $25 or the amount of the donation, whichever is less, for a single person and (ii) $50 or the amount of the donation, whichever is less, for married persons filing jointly. Married persons filing separately are each entitled to a credit in the amount of $25 or the amount of the donation, whichever is less. The tax credit may not reduce the taxpayer's liability to less than zero. The credit may not be carried forward. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status