Votes: IL HB4645 | 2011-2012 | 97th General Assembly
Bill Title: Amends the State Treasurer Act. Authorizes the State Treasurer to establish and administer a Home Savings Pool to supplement and enhance investment opportunities otherwise available to first-time homebuyers. Provides that participants in the Pool are required to use moneys distributed from the Pool for qualified expenditures incident to the purchase of a primary residence by a first-time homebuyer. Contains penalty provisions. Sets forth the duties of the State Treasurer with respect to the Home Savings Pool. Amends the Illinois Income Tax Act. Creates a deduction for individual taxpayers equal to the amount contributed by the taxpayer to a Home Savings Pool account during the taxable year, but not to exceed $20,000 per taxable year. Effective immediately.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HB4645 Detail]
Text: Latest bill text (Introduced) [HTML]
States not producing parsable votes may be available as images in Supplemental Documents.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HB4645 Detail]
Text: Latest bill text (Introduced) [HTML]
Voting Records
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No roll call record information currently on file. |