PETERSON-MADIGAN,R-PARKER-KLEMM-MYERS,J. 35 ILCS 5/212 new Amends the Illinois Income Tax Act. Allows an income tax credit in an amount equal to 15% of the premium costs paid for a qualified long term care insurance contract covering the individual taxpayer or the taxpayer's spouse, parent, or dependent. Provides that the credit may not exceed $200 or the taxpayer's liability, whichever is less. Prohibits the carry-forward of an excess tax credit to a succeeding year's tax liability. Exempts the credit from the sunset provisions. Effective January 1, 2001. 00-01-12 S FIRST READING 00-01-12 S REFERRED TO SENATE RULES COMMITTEE RULES 00-01-12 S ADDED AS A CHIEF CO-SPONSOR MADIGAN,R 00-01-19 S ADDED AS A CHIEF CO-SPONSOR PARKER 00-01-20 S ADDED AS A CHIEF CO-SPONSOR KLEMM 00-02-10 S ADDED AS A CHIEF CO-SPONSOR MYERS,J 00-04-15 S RULED EXEMPT UNDER SENATE RULE 3-9(B) SRUL 00-04-15 S ASSIGNED TO COMMITTEE REVENUE 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary