HB3950 - INC TX-DEPENDENT TAX CREDIT
Illinois - 103rd General Assembly
Introduced byMarcus C. Evans, Anna Moeller, Mary Beth Canty
Last updated over 1 year ago
16 Co-Sponsors
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.
STATUS
Introduced
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