Bill Title: Amends the Illinois Income Tax Act. Increases the earned income tax credit to (i) 12% of the federal tax credit for each taxable year beginning on or after January 1, 2017 and beginning prior to January 1, 2018, (ii) 14% of the federal tax credit for each taxable year beginning on or after January 1, 2018 and beginning prior to January 1, 2019, (iii) 16% of the federal tax credit for each taxable year beginning on or after January 1, 2019 and beginning prior to January 1, 2020, (iv) 18% of the federal tax credit for each taxable year beginning on or after January 1, 2020 and ending prior January 1, 2021, and (v) 20% of the federal tax credit for each taxable year beginning on or after January 1, 2021. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Failed) 2019-01-09 - Session Sine Die [SB0744 Detail]

Text: Latest bill text (Introduced) [HTML]

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