Reick 2017 Legislative Agenda Features Tax Code Reforms

With 35 years of experience as a tax and real estate attorney, State Representative Steve Reick (R-Woodstock) has a deep understanding of the Illinois statutes as they relate to the taxes people pay. Through his work he has also discovered problem areas of the law that are in need of reform. During his first term as an Illinois lawmaker Reick said he hopes he can use his knowledge of the tax code to put improvements in place to help all Illinoisans.

“Tax law is tedious, and over the years I have dealt with provisions that I have felt were overly burdensome for Illinois residents and families,” Reick said. “I’m hoping my experiences can facilitate some much-needed reforms that will provide some real tax relief while also simplifying processes.”

HB 3013, filed by Reick this week in Springfield, would provide property tax relief to Illinoisans over the age of 65 who have a federal adjusted gross income of $50,000 or less. “The property tax burden falls hard upon seniors on fixed incomes, and while the credit will in most cases be modest, it will help them stretch their limited incomes,” Reick said. “It may help a senior citizen with an electric bill, some groceries or a prescription. Anyway, we’ll keep taking small steps until we figure out how to provide substantive relief to everyone in the state.”

A second bill, HB 380, seeks to amend the Illinois Estate and Generation-Skipping Transfer Tax Act by bringing Illinois law in line with processes used by the other 49 states in the nation. “When it comes to death taxes, also known as estate taxes, the Illinois process is extremely laborious and time consuming,” said Reick. “Through HB 380 I would like to change the death tax provision in Illinois law so it mirrors what’s already being done in every other state. Generally speaking, the changes I’m proposing would lower the amount of death taxes owed for most Illinoisans.”

Reick has also filed HB 2576, a bill that would add a county designation to all individual income tax forms. “This simple change could provide a great deal of benefit for those who study the movement of Illinoisans from county to county within the state,” Reick said. “Today we can tell who moves into or out of Illinois, but we are unable to easily collect data about trends related to migration within our state.”