Sen. Omar Aquino

Filed: 4/1/2022

 

 


 

 


 
10200SB1150sam006LRB102 04951 HLH 38516 a

1
AMENDMENT TO SENATE BILL 1150

2    AMENDMENT NO. ______. Amend Senate Bill 1150, AS AMENDED,
3by inserting Article 30 in its proper numeric sequence as
4follows:
 
5
"Article 30. EARNED INCOME TAX CREDIT

 
6    Section 30-5. The Illinois Income Tax Act is amended by
7changing Section 212 as follows:
 
8    (35 ILCS 5/212)
9    Sec. 212. Earned income tax credit.
10    (a) With respect to the federal earned income tax credit
11allowed for the taxable year under Section 32 of the federal
12Internal Revenue Code, 26 U.S.C. 32, each individual taxpayer
13is entitled to a credit against the tax imposed by subsections
14(a) and (b) of Section 201 in an amount equal to (i) 5% of the
15federal tax credit for each taxable year beginning on or after

 

 

10200SB1150sam006- 2 -LRB102 04951 HLH 38516 a

1January 1, 2000 and ending prior to December 31, 2012, (ii)
27.5% of the federal tax credit for each taxable year beginning
3on or after January 1, 2012 and ending prior to December 31,
42013, (iii) 10% of the federal tax credit for each taxable year
5beginning on or after January 1, 2013 and beginning prior to
6January 1, 2017, (iv) 14% of the federal tax credit for each
7taxable year beginning on or after January 1, 2017 and
8beginning prior to January 1, 2018, and (v) 18% of the federal
9tax credit for each taxable year beginning on or after January
101, 2018 and beginning prior to January 1, 2023, and (vi) 19% of
11the federal tax credit for each taxable year beginning on or
12after January 1, 2023.
13    For a non-resident or part-year resident, the amount of
14the credit under this Section shall be in proportion to the
15amount of income attributable to this State.
16    (b) For taxable years beginning before January 1, 2003, in
17no event shall a credit under this Section reduce the
18taxpayer's liability to less than zero. Except as provided in
19subsection (b-5), for For each taxable year beginning on or
20after January 1, 2003, if the amount of the credit exceeds the
21income tax liability for the applicable tax year, then the
22excess credit shall be refunded to the taxpayer. The amount of
23a refund shall not be included in the taxpayer's income or
24resources for the purposes of determining eligibility or
25benefit level in any means-tested benefit program administered
26by a governmental entity unless required by federal law.

 

 

10200SB1150sam006- 3 -LRB102 04951 HLH 38516 a

1    (b-5) For taxable years beginning on or after January 1,
22023, each individual taxpayer filing a return using an
3individual taxpayer identification number (ITIN) as prescribed
4under Section 6109 of the Internal Revenue Code, other than a
5Social Security number issued pursuant to Section 205(c)(2)(A)
6of the Social Security Act, is entitled to the credit under
7paragraph (a) based on the federal tax credit for which they
8would have been eligible without applying the restrictions
9regarding social security numbers in Section 32(m) of the
10federal Internal Revenue Code. If the amount of the credit
11under this Section for a taxpayer who files a return using an
12ITIN, other than a Social Security number, exceeds that
13taxpayer's income tax liability for the applicable tax year,
14then the excess credit shall not be refunded to the taxpayer.
15    (c) This Section is exempt from the provisions of Section
16250.
17(Source: P.A. 100-22, eff. 7-6-17.)".