www.illinois.gov

Pat Quinn, Governor

State Links Skip to Content Skip to State Links

 Government
 Business
 Employment
 Education
 Health & Safety
 Family & Home
 Travel & Recreation
 About Illinois
 Illinois.gov

Stay Informed

Your Government


[Search Tips]

Illinois Flag Honors

Inspector General


 IGNN: State/All Press Release

ILLINOIS NEWS
The State of Illinois News page provides access to the Illinois Government News Network and all state press releases.


FOR IMMEDIATE RELEASE
May 11, 2000

GOVERNOR RYAN SIGNS EARNED INCOME TAX CREDIT BILL

CHICAGO-- Governor George H. Ryan signed into law the earned income tax credit bill, which will provide a tax credit to low-income workers.

"Today we are here to sign into law one of the most important measures we have ever passed in Springfield. It will directly benefit people that need our help the most," said Gov. Ryan, who was joined at the bill signing by Chicago Mayor Richard M. Daley, Senate Minority Leader Emil Jones and a bipartisan group of General Assembly members supporting the legislation.

House Bill 3939 amends the Illinois Income Tax Act to establish the first-ever Illinois Earned Income Tax Credit (EITC) for individuals. This credit will be equal to 5% of the federal earned income tax credit for the years 2000 through 2002.

"The federal Earned Income Tax Credit has been proven to stimulate our economy," Gov. Ryan said. "With the state EITC, this money will be spent right here in Illinois.

"This will cost the state about $35 million -- but it will be worth every penny because it helps people who are starting out in the workforce," the Governor said. "The state earned income tax credit will put about $50 or more in their pockets."

The Governor commended Mayor Daley and the corporate and civic leaders for their outreach efforts to educate low-income workers about the federal earned income tax credit and said he hopes to join in a similar statewide effort to promote the state EITC.

The chief sponsors of House Bill 3939 are Rep. Barbara Flynn Currie, D-Chicago; House Republican Leader Lee Daniels, R-Elmhurst; Rep. Art Turner, D-Chicago; Rep. Eileen Lyons, R-Western Springs; and Rep. Julie Hamos, D-Evanston. Chief Senate sponsors were Sen. William Peterson, R-Long Grove; Sen. Dave Sullivan, R-Mount Prospect; Sen. Patrick O'Malley, R-Palos Park; Sen. Adeline Geo-Karis, R-Zion; and Sen. Chris Lauzen, R-Aurora.

The state earned income tax credit is just part of $350 million new tax relief provided to the people of Illinois in Gov. Ryan's 2001 budget, passed by the General Assembly. Other tax relief includes expanding the Circuit Breaker program, which provides a tax break for low-income seniors facing rising property taxes and assistance with pharmaceutical costs. Property owners are also getting significant property tax relief. About 2 million homeowners will receive an average check of $125 this fall as a rebate on the property taxes.



###

News Categories

 State/All
 Governor's Office
 Lt. Governor's Office
 Agriculture
 Budget/Fiscal
 Business
 Children/Families
 Culture
 Disabilities
 Economic Development
 Education
 Environment
 Flag Honors
 Health/Human Services
 History
 Infrastructure
 Opportunity Returns
 Recovery
 Safety/Security
 Technology
 Tourism/Recreation
 Transportation
 Workforce/Jobs

News Resources

 Search the News
 IIS Radio News
 RSS News Feeds
 e-News Subscriptions
 Communications Office
 Privacy Statement

Features

Sign up for an e-news subscription
Copyright © 2014 State of Illinois Site Map | Illinois Privacy Info | Kids Privacy | Web Accessibility | Contact Us