92nd General Assembly
Summary of HB2094
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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