Bill Sponsors: IL SB1444 | 2023-2024 | 103rd General Assembly
Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for dependents of the taxpayer. Provides that the maximum amount of the credit is $700 per qualified dependent of the taxpayer. Provides that the maximum amount shall be reduced by $24 for each $1,000 by which the taxpayer's net income exceeds $75,000 in the case of a joint return or $50,000 in the case of any other form of return. Defines "qualified dependent". Effective immediately.
Spectrum: Partisan Bill (Democrat 23-0)
Status: (Introduced) 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments [SB1444 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 23-0)
Status: (Introduced) 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments [SB1444 Detail]
Text: Latest bill text (Introduced) [HTML]