ROCK ISLAND, Illinois — Victims of flooding in Rock Island County in July of this year could receive a $750 tax credit under a new state Rep. Mike Halpin-backed bill.
Senate Bill 403 creates a tax credit, worth up to $750, for eligible property owners who sustained and reported damage as a result of this summer’s flooding. However, home and small business owners who received a reimbursement from an insurance company do not qualify for the credit.
Halpin said the need to ease the financial burden of rebuilding still exists months later. “I am hopeful that the governor will approve our plan to provide relief to affected families and business owners so that they can get things back in order and move forward,” said Halpin.
The bill awaits the governor’s signature to become law.