Bill Title: Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the amount of personal interest paid by an individual taxpayer during the taxable year. Provides that the term "personal interest" means interest paid on personal and consumer loans that is not deductible when calculating the taxpayer's federal adjusted gross income. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2016-05-18 - Referred to Assignments [SB3429 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-05-18	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3429

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3429 currently on file.