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<xml>
<title>Illinois General Assembly - Bill Status for SB 744          </title>
<shortdesc>INC TX-EARNED INCOME CREDIT</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Jacqueline Y. Collins-Iris Y. Martinez and Omar Aquino-Wm. Sam McCann</sponsors>
</sponsor>
<lastaction>
<statusdate>1/9/2019</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/212</reference><aliasreference></aliasreference><SynopsisText>Amends the Illinois Income Tax Act. Increases the earned income tax credit to (i) 12% of the federal tax credit for each taxable year beginning on or after January 1, 2017 and beginning prior to January 1, 2018, (ii) 14% of the federal tax credit for each taxable year beginning on or after January 1, 2018 and beginning prior to January 1, 2019, (iii) 16% of the federal tax credit for each taxable year beginning on or after January 1, 2019 and beginning prior to January 1, 2020, (iv) 18% of the federal tax credit for each taxable year beginning on or after January 1, 2020 and ending prior January 1, 2021, and (v) 20% of the federal tax credit for each taxable year beginning on or after January 1, 2021. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>1/30/2017</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. Jacqueline Y. Collins</action>
<statusdate>1/30/2017</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>1/30/2017</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>2/8/2017</statusdate><chamber>Senate</chamber><action>Assigned to Revenue</action>
<statusdate>2/16/2017</statusdate><chamber>Senate</chamber><action>Added as Chief Co-Sponsor Sen. Iris Y. Martinez</action>
<statusdate>2/17/2017</statusdate><chamber>Senate</chamber><action>Added as Co-Sponsor Sen. Omar Aquino</action>
<statusdate>2/22/2017</statusdate><chamber>Senate</chamber><action>To Subcommittee on Income Taxes</action>
<statusdate>3/9/2017</statusdate><chamber>Senate</chamber><action>Added as Chief Co-Sponsor Sen. Wm. Sam McCann</action>
<statusdate>3/17/2017</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>1/9/2019</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

