Illinois House Bill 4485 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 1)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Creates a credit equal to any unreimbursed amounts paid by the taxpayer during the taxable year for the purposes of (i) rebuilding or restoring a residential, industrial, or commercial structure located in the State that was damaged as a result of a natural disaster or (ii) engaging in other cleanup efforts related to a natural disaster occurring in the State. Provides that a taxpayer is not entitled to a credit if the natural disaster occurred more than 2 years prior to the taxable year for which the credit is claimed. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

INC TX-NATURAL DISASTER

Rep. Katherine Cloonen [D]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2014-02-03	House	Referred to Rules Committee
2014-02-03	House	First Reading
2014-01-30	House	Filed with the Clerk by Rep. Katherine Cloonen

Chapter	Article	Section	Citation Type	Statute Text
35	5	224	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4485&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB4485.htm