House Sponsors: MAY-MATHIAS-FRANKS-FLOWERS-SCHOENBERG, FOWLER, FEIGENHOLTZ, DAVIS,MONIQUE AND CROTTY. Short description: INC TX-HEALTH CARE CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Beginning with tax years ending on or after December 31, 2001 and ending with tax years ending on or before December 31, 2005, allows small businesses to claim a tax credit in an amount equal to the amount of expenditures for health care insurance for its employees made in the year for which the credit is claimed. Provides that the credit may not reduce a taxpayer's liability to less than zero. Provides that the excess credit may be carried forward for a period of 5 years. Requires the taxpayer to keep any records required by the Department of Revenue regarding the health care expenditures for which the credit is claimed. 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