Press Releases

Senator Melinda Bush speaks on the Senate floorSPRINGFIELD – Lake County residents whose property was damaged during July’s floods could receive an income tax credit of up to $750 under a measure introduced today by Senator Melinda Bush (D-Grayslake).

“The flooding that occurred this summer cost Lake County residents thousands of dollars,” Bush said. “While some individuals have received insurance reimbursements, many are still waiting on the money they need to rebuild. This tax credit would provide much-needed relief to flood victims who have lost so much.”

Senate Bill 403 allows a natural disaster income tax credit of up to $750 in counties where a state disaster proclamation was issued in July. Individuals must own property and must have reported property damage to the appropriate authority in order to qualify for the tax credit.

Individuals who received a reimbursement from an insurance company are not entitled to the tax credit.

The measure applies to the following counties: Lake, McHenry, Kane, Cook, Carroll, Henry, Jo Daviess, Lee, Ogle, Rock Island, Stephenson and Whiteside.

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Category: Press Releases

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