INCOME TX-ARMED SERVICE CREDIT

Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2003, each taxpayer is entitled to an income tax credit in the amount of $1,000 per taxable year if the taxpayer is a member of the Illinois National Guard or of a reserve component of the armed forces of the United States and served for at least 60 continuous days of active military service during the taxable year pursuant to orders of either the Governor or the President of the United States. Allows the credit to be carried forward for 10 years and exempts the credit from the sunset provisions of the Act. Effective immediately.