Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/213 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Beginning with tax years ending on or after December 31, 2003 and ending with tax years ending on or before December 31, 2007, allows small businesses to claim a tax credit in an amount equal to the amount of expenditures for health care insurance for its employees made in the year for which the credit is claimed. Provides that the credit may not reduce a taxpayer's liability to less than zero. Provides that the excess credit may be carried forward for a period of 5 years. Requires the taxpayer to keep any records required by the Department of Revenue regarding the health care expenditures for which the credit is claimed. Effective immediately.

Actions 

Date	Chamber	Action
2/6/2003	Senate	Filed with Secretary by Sen. Jeffrey M. Schoenberg
2/6/2003	Senate	First Reading
2/6/2003	Senate	Referred to Rules
2/26/2003	Senate	Assigned to Revenue
3/6/2003	Senate	To Subcommittee
3/14/2003	Senate	Rule 3-9(a) / Re-referred to Rules
1/11/2005	Senate	Session Sine Die

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