Senate Sponsors: MAHAR-WALSH,T. House Sponsors: MCCARTHY-KOSEL-PARKE-DAVIS,STEVE-COWLISHAW Short description: INC TAX-MILITARY DEDUCTION Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Allows a deduction from adjusted gross income, for taxable years ending on or after December 31, 2001, of any compensation paid to a resident in 2001 or thereafter by reason of being a member of the Illinois National Guard (now, a deduction is allowed for any compensation paid to a resident for annual training performed pursuant to Sections 502 and 503, Title 32, United States Code as a member of the Illinois National Guard). Exempts the deduction from the Act's sunset requirements. Effective immediately. FISCAL NOTE (Department of Revenue) Based on the most recent statistics from the Department of Military Affairs, the total additional amount of income that may be deducted pursuant to SB 52 is estimated at $81.8 million, resulting in an estimated reduction in income tax revenues of $2.5 million. Last action on Bill: PUBLIC ACT.............................. 92-0244 Last action date: AUG-03-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status