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Key Votes

SB 400 - Amends State Income Tax - Key Vote

Illinois Key Votes

Sidney Mathias voted Yea (Passage With Amendment) on this Legislation.

Read statements Sidney Mathias made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Amends State Income Tax

Signed by Governor Pat Quinn
Legislation - Concurrence Vote Passed (Senate) (48-4) - (Key vote)

Title: Amends State Income Tax

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that amends the state income tax.

Highlights:
  • Specifies the amount of the “basic amount” used to calculate each individual taxpayer’s exemption in each of the following tax years (Sec. 204):
    • $2,000 until December 31, 2012;
    • $2,050 on or after December 31, 2012 until December 31, 2013; and
    • $2,050 plus the “cost-of-living adjustment,” on or after December 31, 2013.
  • Defines the “cost-of-living adjustment” as $2,050 multiplied by the percent by which the Consumer Price Index for the preceding year exceeds the Consumer Price Index for the 2011 calendar year (Sec. 204).
  • Specifies that if the cost-of-living adjustment is not a multiple of $25, it shall be rounded to the next lowest multiple of $25 (Sec. 204).
  • Authorizes an increase in the state earned income tax credit for individual taxpayers for each taxable year from 5 percent of the federal tax credit to the following amounts (Sec. 212):
    • 7.5 percent of federal tax credit on or after January 1, 2012 and prior to December 31, 2013; and
    • 10 percent of federal tax credit on or after January 1, 2013.
Legislation - Bill Passed With Amendment (House) (67-49) - (Key vote)

Title: Amends State Income Tax

Vote Smart's Synopsis:

Vote to pass a bill that amends the state income tax.

Highlights:
  • Specifies the amount of the “basic amount” used to calculate each individual taxpayer’s exemption in each of the following tax years (Sec. 204):
    • $2,000 until December 31, 2012;
    • $2,050 on or after December 31, 2012 until December 31, 2013; and
    • $2,050 plus the “cost-of-living adjustment,” on or after December 31, 2013.
  • Defines the “cost-of-living adjustment” as $2,050 multiplied by the percent by which the Consumer Price Index for the preceding year exceeds the Consumer Price Index for the 2011 calendar year (Sec. 204).
  • Specifies that if the cost-of-living adjustment is not a multiple of $25, it shall be rounded to the next lowest multiple of $25 (Sec. 204).
  • Authorizes an increase in the state earned income tax credit for individual taxpayers for each taxable year from 5 percent of the federal tax credit to the following amounts (Sec. 212):
    • 7.5 percent of federal tax credit on or after January 1, 2012 and prior to December 31, 2013; and
    • 10 percent of federal tax credit on or after January 1, 2013.
Legislation - Bill Passed (Senate) (37-17) -
Legislation - Introduced (Senate) -

Title: Amends State Income Tax

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