Bill Title: Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2012, and ending on or before December 31, 2016, individual taxpayers who make a purchase of residential real property during the taxable year are entitled to a credit in an amount not to exceed $1,000. Provides that the taxpayer is eligible for the credit if the property is purchased as the taxpayer's principal place of residence and the property is used as the taxpayer's principal place of residence on the last day of the taxable year. Contains provisions allowing the credit to be carried forward. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB4034 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-01-20	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4034

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4034 currently on file.

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