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Sen. John J. Cullerton
Filed: 5/8/2008
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09500SB2288sam002 |
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LRB095 19753 HLH 50038 a |
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| AMENDMENT TO SENATE BILL 2288
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| AMENDMENT NO. ______. Amend Senate Bill 2288 on page 14, |
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| line 8, by replacing "Section 218" with "Sections 218 and 219"; |
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| and
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| on page 49, immediately below line 22, by inserting the |
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| following:
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| "(35 ILCS 5/219 new)
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| Sec. 219. Residential rent credit. Each individual |
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| taxpayer residing
within a school district within which the |
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| local income tax for schools
authorized by this Act has been |
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| imposed, levied, and collected is entitled to a
credit, not to |
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| exceed $500, against the tax imposed under this Act in the
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| amount of 5% of the annual rent paid by the taxpayer during the
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| taxable year for the residence of the taxpayer. In no event |
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| shall a credit
under this Section reduce the taxpayer's |
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| liability under this Act to less than
zero. This Section is |