HB 3332

  • Illinois House Bill
  • 98th Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Inc Tx-Young Farmers

Abstract

Amends the Illinois Income Tax Act. Provides that each taxpayer who qualifies as a young farmer is allowed a credit of $1,000 for the taxable year in which the taxpayer first purchases real property that will be used for agricultural production. Provides that the term "young farmer" means an individual who is 35 years of age or younger and who derives a minimum of 50% of his or her income from farming. Effective immediately.

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Dec 03, 2014

House

Session Sine Die

Mar 22, 2013

House

Rule 19(a) / Re-referred to Rules Committee

Mar 19, 2013

House

Added Co-Sponsor Rep. Kelly M. Cassidy

Mar 11, 2013

House

Assigned to Revenue & Finance Committee

Feb 26, 2013

House

Filed with the Clerk by Rep. Charles E. Meier

House

Referred to Rules Committee

House

First Reading

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