INC TX-RENTAL PAYMENTS
Summary
Amends the Illinois Income Tax Act. Creates an income tax credit for certain qualified individual taxpayers who rent a dwelling in Illinois for use as their principal place of residence. Provides that the credit shall be equal to 5% of the documented rental costs paid by such taxpayer during the taxable year on that dwelling. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Oct 2023
Committee Review
Floor Vote
Governor
Introduced Oct 24, 2023
Last action May 3, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
2
Committee
5
May 3, 2024
Committee
Rule 3-9(a) / Re-referred to Assignments
lower
Apr 5, 2024
Lower · Passed
Rule 2-10 Committee Deadline Established As May 3, 2024
lower
Mar 15, 2024
Lower · Passed
Rule 2-10 Committee Deadline Established As April 5, 2024
lower
Jan 24, 2024
Committee
Assigned to Revenue
lower
Oct 24, 2023
Committee
Referred to Assignments
lower
1 primary · 1 co-sponsor
Sponsors
Ask Maddy
·
AI policy assistant
Ask Maddy about SB 2624
Scope: IL
Hi! I can help you understand SB 2624. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline