<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 4405         </title>
<shortdesc>INC TX-PROPERTY TAX CREDIT</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Chris Miller</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/208</reference><aliasreference>from Ch. 120, par. 2-208</aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Provides that, for tax years ending on or after December 31, 2024, the credit for residential real property taxes is (i) 75% of the real property taxes paid by the taxpayer if the taxpayer is younger than 51 years of age on the last day of the tax year and (ii) 50% of the real property taxes paid by the taxpayer if the taxpayer is 51 years of age or older on the last day of the tax year. Provides that the credit is permanent. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>1/8/2024</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Chris Miller</action>
<statusdate>1/16/2024</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>1/16/2024</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/12/2024</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>4/5/2024</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

