Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
Just proposed
A lawmaker wrote this idea down and officially asked the government to consider it.
Next: a committee studies it and decides if it moves forward.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
Amends the Illinois Income Tax Act. Provides that each individual taxpayer who incurs debt that does not exceed $60,000 in connection with the financing of a qualified motor vehicle is entitled to a deduction in an amount equal to the interest paid on the qualified motor vehicle loan during the taxable year. Effective immediately.
