IL HB3050 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that each taxpayer who owns rental property in the State is entitled to an income tax credit if the taxpayer (i) rents the property to a low-income household during the taxable year and (ii) charges rent to that household that is not more than 50% of the fair market rental value for the property. Effective immediately.
Title
INC TX-LOW-INCOME HOUSING
Sponsors
| Rep. Aaron Ortiz [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-03-29 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2019-03-06 | House | To Income Tax Subcommittee |
| 2019-02-26 | House | Assigned to Revenue & Finance Committee |
| 2019-02-15 | House | Referred to Rules Committee |
| 2019-02-15 | House | First Reading |
| 2019-02-15 | House | Filed with the Clerk by Rep. Aaron M. Ortiz |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3050&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/HB/10100HB3050.htm |
