INC TX-PROP TX CREDIT Senate SponsorsSen. Terry Link-Dan Kotowski-Jacqueline Y. Collins 1/12/2011SenateSession Sine Die 35 ILCS 5/208from Ch. 120, par. 2-208Amends the Illinois Income Tax Act. Provides that an individual taxpayer with an adjusted gross income of less than $125,000 is entitled to an income tax credit if the real property taxes paid by that taxpayer during the taxable year on his or her principal residence exceeds 5% of the taxpayer's adjusted gross income. Provides that the amount of the credit shall not exceed (i) $250 for taxpayers with an adjusted gross income below $75,000 and (ii) $150 for taxpayers with an adjusted gross income of $75,000 or above but less than $125,000. Effective immediately. 2/9/2010SenateFiled with Secretary by Sen. Terry Link 2/9/2010SenateFirst Reading 2/9/2010SenateReferred to Assignments 2/16/2010SenateAssigned to Revenue 2/24/2010SenateTo Revenue Subcommittee on Property Taxes 3/5/2010SenateRule 2-10 Committee Deadline Established As March 19, 2010 3/12/2010SenateAdded as Chief Co-Sponsor Sen. Dan Kotowski 3/15/2010SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 3/19/2010SenateRule 3-9(a) / Re-referred to Assignments 1/12/2011SenateSession Sine Die