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IL HB4416

Bill

Official Source

Status

Introduced

1/7/2022

Primary Sponsor

Chris Miller

Click for details

Origin

House of Representatives

102nd General Assembly

AI Summary

  • Exempts individuals aged 65 and older from Illinois income tax for tax years beginning on or after January 1, 2023, making net income earned or received by seniors tax-free.

  • Applies to the net income tax imposed under the Illinois Income Tax Act (35 ILCS 5/201) but does not affect other occupation or privilege taxes.

  • Takes effect immediately upon becoming law.

Legislative Description

INC TX-INDIVIDUALS OVER 65

Last Action

Rule 19(a) / Re-referred to Rules Committee

2/18/2022

Committee Referrals

Rules2/18/2022
Income Tax2/15/2022
Revenue & Finance2/9/2022
Rules1/21/2022

Full Bill Text

No bill text available