Bill Title: Amends the Illinois Income Tax Act. Allows individuals to deduct an amount equal to the value of real estate donated during the taxable year to an entity exempt from federal taxation under Section 501(c) of the Internal Revenue Code. Requires the taxpayer to file with his or her return an appraisal substantiating the deduction that meets the requirements for appraisals acceptable to the Internal Revenue Service to substantiate the value of real estate for federal income tax purposes. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-03-13 - Rule 3-9(a) / Re-referred to Assignments [SB2339 Detail]

Text: Latest bill text (Introduced) [HTML]

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