Day: November 16, 2017

Governor Rauner Signs Tax Credit Bill for 2017 Flood Victims

Political Issues
SB 403 provides credit of up to $750 for eligible taxpayers Gov. Bruce Rauner signed into law today a tax credit worth up to $750 for property owners in 18 Illinois counties where flood damages were sustained in July. The bill, signed at the James R. Thompson Center in Chicago this morning, creates a natural disaster credit that eligible, affected property owners may apply to their 2017 Illinois income taxes. Included counties are Cook, Lake, Kane, McHenry, Alexander, Clinton, Jackson, Marshall, Union, Woodford, Carroll, Henry, Jo Daviess, Lee, Ogle, Rock Island, Stephenson and Whiteside — all of which were declared state disaster areas by the governor last summer. “July’s severe storms pushed rivers and lakes over their banks across a wide swath of Illinois,” Rauner said. “Many home