HB 5844

Abstract

Amends the Illinois Income Tax Act. Provides that the education expense credit shall be $2,500 for tax years ending on or after December 31, 2020. Provides that, if the school district in which the principal residence of the taxpayer is located has implemented attendance restrictions as a result of the COVID-19 pandemic during any part of the taxable year, then, for that taxable year only, the tax credit for residential real property taxes shall be equal to 25% of real property taxes paid by the taxpayer during the taxable year on the principal residence of the taxpayer. Effective immediately.