IL HB3013

Amends the Illinois Income Tax Act Section 208 to allow excess residential property tax credits to be refunded to taxpayers age 65 or older with federal adjusted gross income not exceeding $50,000, effective for tax years 2017 and thereafter.

Specifies that refunded amounts shall not be counted as income or resources when determining eligibility or benefit levels in means-tested government benefit programs, unless required by federal law.

Exempts the amended provisions from Section 250 of the Illinois Income Tax Act.

Takes effect immediately upon becoming law.