Bill Text: IL HB0156 | 2017-2018 | 100th General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning a tax credit for property taxes.

Spectrum: Moderate Partisan Bill (Democrat 41-9)

Status: (Passed) 2018-12-14 - Public Act . . . . . . . . . 100-1149 [HB0156 Detail]

Download: Illinois-2017-HB0156-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 HB0156 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
35 ILCS 5/208 from Ch. 120, par. 2-208
Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning a tax credit for property taxes.
LRB100 03826 HLH 13831 b
A BILL FOR
HB0156 LRB100 03826 HLH 13831 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by
changing Section 208 as follows:
(35 ILCS 5/208) (from Ch. 120, par. 2-208)
Sec. 208. Tax credit for residential real property taxes.
Beginning with tax years ending on or after December 31, 1991,
every individual taxpayer shall be entitled to a tax credit
equal to 5% of real property taxes paid by such taxpayer during
the the taxable year on the principal residence of the
taxpayer. In the case of multi-unit or multi-use structures and
farm dwellings, the taxes on the taxpayer's principal residence
shall be that portion of the total taxes which is attributable
to such principal residence.
(Source: P.A. 87-17.)