INC TX-BACK-TO-SCHOOL CREDIT

Amends the Illinois Income Tax Act. Creates an income tax credit for individual taxpayers who purchase qualified merchandise during the period from 12:01 a.m. on the first Friday in August through midnight of the Sunday that follows 9 days later. Sets the amount of the credit at an amount equal to 6.25% of the purchase. Defines "qualified merchandise" as any article of clothing or footwear or computer that is sold at or below certain selling prices. Sets forth criteria for transactions to qualify for the credit. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.