<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 4998         </title>
<shortdesc>INC TX-STANDARD EXEMPTION</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Amy Elik-Patrick Sheehan</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/204</reference><aliasreference>from Ch. 120, par. 2-204</aliasreference><reference>5 ILCS 100/5-45.55 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Removes a provision that sets forth the basic amount of the standard exemption for taxable years ending on or after December 31, 2023 and prior to December 31, 2024, and restores the cost-of-living adjustment for the basic amount that had been operative before the effective date of Public Act 103-9. Amends the Illinois Administrative Procedure Act to provide for emergency rulemaking. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/7/2024</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Amy Elik</action>
<statusdate>2/8/2024</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/8/2024</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/5/2024</statusdate><chamber>House</chamber><action>Assigned to Revenue &amp; Finance Committee</action>
<statusdate>3/8/2024</statusdate><chamber>House</chamber><action>To Revenue-Income Tax Subcommittee</action>
<statusdate>4/5/2024</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>4/19/2024</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Patrick Sheehan</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

