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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3095 Introduced 2/23/2011, by Rep. Michael W. Tryon SYNOPSIS AS INTRODUCED:
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35 ILCS 5/208 | from Ch. 120, par. 2-208 |
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Amends the Illinois Income Tax Act. In a Section concerning a credit for residential real property taxes, provides that the Department's electronic filing system must allow taxpayers to enter up to 10 property index numbers per return when calculating the credit.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB3095 | | LRB097 08668 HLH 48797 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Income Tax Act is amended by |
| 5 | | changing Section 208 as follows:
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| 6 | | (35 ILCS 5/208) (from Ch. 120, par. 2-208)
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| 7 | | Sec. 208. Tax credit for residential real property taxes. |
| 8 | | Beginning with tax years ending on or after December 31, 1991,
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| 9 | | every individual taxpayer shall be entitled to a tax credit |
| 10 | | equal
to 5% of real property taxes paid by such taxpayer during |
| 11 | | the
taxable year on the principal residence of the taxpayer. In |
| 12 | | the
case of multi-unit or multi-use structures and farm |
| 13 | | dwellings,
the taxes on the taxpayer's principal residence |
| 14 | | shall be that
portion of the total taxes which is attributable |
| 15 | | to such principal
residence.
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| 16 | | The Department's electronic filing system must allow |
| 17 | | taxpayers to enter up to 10 property index numbers per return |
| 18 | | when calculating the credit under this Section. |
| 19 | | (Source: P.A. 87-17.)
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