INC TX-INSURANCE DEDUCTION

Amends the Illinois Income Tax Act. Creates an income tax deduction in an amount equal to the difference between (i) the homeowner's insurance premiums paid on the taxpayer's principal residence during the calendar year that begins during the taxable year for which the deduction is claimed and (ii) the homeowner's insurance premiums paid on the taxpayer's principal residence during the immediately preceding calendar year. Provides that the deduction applies only if the taxpayer has the same prin…