IL HB2458

Amends the Illinois Income Tax Act to increase the earned income tax credit from 10% to a phased schedule beginning in 2015.

Increases the credit to 12% of the federal tax credit for taxable years 2015-2016, rising incrementally by 2% each subsequent two-year period.

Reaches 20% of the federal tax credit for taxable years beginning on or after January 1, 2019 and continuing thereafter.

Non-residents and part-year residents receive a proportional credit based on income attributable to Illinois.

Takes effect immediately upon becoming law.