Bill Sponsors: IL SB2624 | 2023-2024 | 103rd General Assembly
Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for certain qualified individual taxpayers who rent a dwelling in Illinois for use as their principal place of residence. Provides that the credit shall be equal to 5% of the documented rental costs paid by such taxpayer during the taxable year on that dwelling. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB2624 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB2624 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
| Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
|---|---|---|---|---|---|---|
| Senator Natalie Toro [D] | Primary | Sponsored Bills | SD-020 | N/A | Ballotpedia | VoteSmart |
| Senator Willie Preston [D] | Cosponsor | Sponsored Bills | SD-016 | FollowTheMoney | Ballotpedia | VoteSmart |
