Bill Title: Amends the Illinois Income Tax Act. Creates a credit in the amount of $50 for each exemption allowable to the taxpayer for the taxable year under Section 151 of the Internal Revenue Code for a dependent who is under the age of 18 on the last day of the taxable year. Provides that, if the amount of the credit exceeds the income tax liability for the applicable tax year, then the excess credit shall be refunded to the taxpayer. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB4964 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-02-03	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4964

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4964 currently on file.