Bill Text: IL HB3013 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: Amends the Illinois Income Tax Act. Provides that the amount of credit that exceeds the taxpayer's liability shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Effective immediately.

Spectrum: Slight Partisan Bill (Republican 10-4)

Status: (Introduced) 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee [HB3013 Detail]

Download: Illinois-2017-HB3013-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB3013

Introduced , by Rep. Steven Reick

SYNOPSIS AS INTRODUCED:
35 ILCS 5/208 from Ch. 120, par. 2-208

Amends the Illinois Income Tax Act. Provides that the amount of credit that exceeds the taxpayer's liability shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

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1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Income Tax Act is amended by
5changing Section 208 as follows:
6 (35 ILCS 5/208) (from Ch. 120, par. 2-208)
7 Sec. 208. Tax credit for residential real property taxes.
8Beginning with tax years ending on or after December 31, 1991,
9every individual taxpayer shall be entitled to a tax credit
10equal to 5% of real property taxes paid by such taxpayer during
11the taxable year on the principal residence of the taxpayer. In
12the case of multi-unit or multi-use structures and farm
13dwellings, the taxes on the taxpayer's principal residence
14shall be that portion of the total taxes which is attributable
15to such principal residence. For taxable years 2017 and
16thereafter, if the amount of the credit exceeds the income tax
17liability for the applicable tax year, then the excess credit
18shall be refunded to the taxpayer if (i) the taxpayer is 65
19years old or older and (ii) has a federal adjusted gross income
20not greater than $50,000. The amount of a refund shall not be
21included in the taxpayer's income or resources for the purposes
22of determining eligibility or benefit level in any means-tested
23benefit program administered by a governmental entity unless

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1required by federal law.
2 The provisions of this Section, as amended by this
3amendatory Act of the 100th General Assembly, are exempt from
4the provisions of Section 250.
5(Source: P.A. 87-17.)
6 Section 99. Effective date. This Act takes effect upon
7becoming law.
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