Bill Sponsors: IL HB2251 | 2019-2020 | 101st General Assembly
Bill Title: Amends the Illinois Income Tax Act. Provides that each taxpayer who (i) was a resident of another State, (ii) first became a resident of Illinois in a taxable year beginning on or after January 1, 2019, (iii) agrees to reside in Illinois for a period of at least 10 consecutive years, and (iv) applies to the Department of Revenue for a new resident income tax credit is entitled to an income tax credit in the amount of $15,000 per year. Provides for recapture if the taxpayer fails to reside in the State for a period of at least 10 consecutive years after being approved for a credit by the Department. Provides that the credit is exempt from the Act's automatic sunset. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB2251 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB2251 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Representative Thaddeus Jones [D] | Primary | Sponsored Bills | HD-029 | FollowTheMoney | Ballotpedia | VoteSmart |