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<xml>
<title>Illinois General Assembly - Bill Status for HB 4485         </title>
<shortdesc>INC TX-NATURAL DISASTER</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Katherine Cloonen</sponsors>
</sponsor>
<lastaction>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/224 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Creates a credit equal to any unreimbursed amounts paid by the taxpayer during the taxable year for the purposes of (i) rebuilding or restoring a residential, industrial, or commercial structure located in the State that was damaged as a result of a natural disaster or (ii) engaging in other cleanup efforts related to a natural disaster occurring in the State. Provides that a taxpayer is not entitled to a credit if the natural disaster occurred more than 2 years prior to the taxable year for which the credit is claimed. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>1/30/2014</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Katherine Cloonen</action>
<statusdate>2/3/2014</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/3/2014</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

