The Illinois House and Senate approved legislation this week that would provide an income tax credit to flood victims. And it now goes to the governor for his signature.
A co-sponsor, State Representative Tony McCombie from Savanna, says it will help residents of 18 counties affected by flooding last summer, including several in her northwest district.
"This legislation came about because Illinois did not hit the threshold to be eligible for federal assistance. With a property and casualty background, I know that people impacted by the floods are not always made whole by insurance once depreciation, deductibles, and other factors are taken into account. This provides just a little bit of relief to families that have been devastated."
Counties affected by the bill include Carroll, Henry, Jo Daviess, Lee, Ogle, Rock Island, and Whiteside.
The bill would create the Flood Victims Tax Credit, and provide residents and businesses who were victims of these floods an income tax credit of $750 to assist them in their rebuilding effort.