WINKEL-MULLIGAN-O'CONNOR-STEPHENS-COULSON, HOEFT, JONES,JOHN, KURTZ, SCHMITZ, JOHNSON, WOJCIK, CROSS, LYONS,EILEEN, TURNER,JOHN, MYERS,RICHARD, POE, MEYER, MATHIAS, BERNS, HULTGREN, MITCHELL,BILL, SAVIANO, BIGGINS, COWLISHAW AND WRIGHT. 35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208.5 new 35 ILCS 200/15-173 new Amends the Illinois Income Tax Act. Provides that in addition to the existing tax credit for residential property, for the 2001 tax year and thereafter, every individual taxpayer whose principal residence has an equalized assessed value of less than $166,667 shall be entitled to an additional tax credit equal to 5% of the real property taxes paid on the principal residence of the taxpayer. Creates a credit against the taxes imposed under the Act for Subchapter S corporations and sole proprietorships in an amount equal to 5% of the property taxes paid on eligible property owned by the Subchapter S corporation or sole proprietorship. Provides that for Subchapter S corporation or sole proprietorship property to be eligible, it must have an equalized assessed value of less than (i) $399,000 in counties with 3,000,000 or more inhabitants or (ii) $166,667 in counties with fewer than 3,000,000 inhabitants. Exempts the credits from the sunset provisions. Amends the Property Tax Code. Provides that an individual taxpayer who is 65 years of age or older and who paid residential real property taxes on the taxpayer's principal residence is entitled to a rebate. The rebate shall be in an amount equal to 10% of those taxes minus the amount of any credit allowed under the Illinois Income Tax Act for property taxes paid and any homeowners' tax relief rebate paid under the Illinois Income Tax Act. The Department Revenue shall pay rebates for property taxes paid in 1999 and in 2001 and thereafter. Effective immediately. DEC-08-2000 H PREFILED WITH CLERK JAN-10-2001 H FIRST READING JAN-10-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES JAN-19-2001 H ADDED AS A JOINT SPONSOR MULLIGAN JAN-31-2001 H ASSIGNED TO COMMITTEE REVENUE FEB-02-2001 H PRIMARY SPONSOR CHANGED TO WINKEL FEB-02-2001 H ADDED AS A JOINT SPONSOR O'CONNOR FEB-02-2001 H ADDED AS A JOINT SPONSOR STEPHENS FEB-02-2001 H ADDED AS A JOINT SPONSOR COULSON FEB-08-2001 H ADDED AS A CO-SPONSOR HOEFT FEB-08-2001 H ADDED AS A CO-SPONSOR JONES,JOHN FEB-08-2001 H ADDED AS A CO-SPONSOR ZICKUS FEB-08-2001 H ADDED AS A CO-SPONSOR KURTZ FEB-08-2001 H ADDED AS A CO-SPONSOR SCHMITZ FEB-08-2001 H ADDED AS A CO-SPONSOR JOHNSON FEB-08-2001 H ADDED AS A CO-SPONSOR WOJCIK FEB-08-2001 H ADDED AS A CO-SPONSOR CROSS FEB-08-2001 H ADDED AS A CO-SPONSOR LYONS,EILEEN FEB-08-2001 H ADDED AS A CO-SPONSOR MITCHELL,JERRY FEB-08-2001 H ADDED AS A CO-SPONSOR TURNER,JOHN FEB-08-2001 H ADDED AS A CO-SPONSOR MYERS,RICHARD FEB-08-2001 H ADDED AS A CO-SPONSOR POE FEB-08-2001 H ADDED AS A CO-SPONSOR MEYER FEB-08-2001 H ADDED AS A CO-SPONSOR MATHIAS FEB-08-2001 H ADDED AS A CO-SPONSOR BERNS FEB-08-2001 H ADDED AS A CO-SPONSOR BOST FEB-08-2001 H ADDED AS A CO-SPONSOR HULTGREN FEB-08-2001 H ADDED AS A CO-SPONSOR MITCHELL,BILL FEB-08-2001 H ADDED AS A CO-SPONSOR SAVIANO FEB-08-2001 H ADDED AS A CO-SPONSOR BIGGINS FEB-08-2001 H ADDED AS A CO-SPONSOR WAIT FEB-21-2001 H ADDED AS A CO-SPONSOR COWLISHAW MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL APR-04-2001 H MOTION FILED PURSUANT TO RULE APR-04-2001 H 18(G), I MOVE TO APR-04-2001 H DISCHARGE THE APR-04-2001 H RULES COMMITTEE APR-04-2001 H FROM FURTHER APR-04-2001 H CONSIDERATION OF APR-04-2001 H HB 6 AND ADVANCE APR-04-2001 H TO THE ORDER OF APR-04-2001 H SECOND READING- APR-04-2001 H STANDARD DEBATE APR-04-2001 H -CROSS APR-04-2001 H REP.CURRIE OBJECTS APR-04-2001 H TO THE MOTION APR-04-2001 H CHAIR RULES MOTION IS NOT APR-04-2001 H IN ORDER APR-04-2001 H APPEAL RULING OF CHAIR CROSS APR-04-2001 H SHALL THE CHAIR BE SUSTAINED APR-04-2001 H MOTION PREVAILED/CHAIR SUSTAINED 059-054-003 APR-04-2001 H COMMITTEE RULES JUL-18-2001 H ADDED AS A CO-SPONSOR WRIGHT JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary