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 beginning prior to January 1, 2021, and (v) 20% of the federal tax credit for each taxable year beginning on or after January 1, 2021. Effective immediately.
Sponsorship: Partisan Bill (Democrat 43)
Status: (Failed) 2019-01-08 - Session Sine Die
[HB2475 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Introduced | 2017-02-07 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
|---|
| No bill amendments currently on file for Illinois HB2475 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
|---|
| No supplemental documents for Illinois HB2475 currently on file. |
