House Sponsors: FEIGENHOLTZ-MCCARTHY, FOWLER AND FORBY. Short description: INC TAX-RESIDENTIAL RENT CRED Synopsis of Bill as introduced: Amends the Illinois Income Tax Act to create a tax credit for individuals in the amount of 3% 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. Sunsets the credit after 10 years. 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