Bill Title: 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.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2014-12-03 - Session Sine Die [HB4485 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2014-01-30	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4485

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4485 currently on file.