093_HB0131

 
                                     LRB093 03734 SJM 03764 b

 1        AN ACT concerning taxes.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5. The Illinois Income  Tax  Act  is  amended  by
 5    adding Section 213 as follows:

 6        (35 ILCS 5/213 new)
 7        Sec. 213. Armed service support credit.
 8        (a)  Intent.  The armed service support credit authorized
 9    by this Section is to compensate the  homeland  spouse  of  a
10    serviceperson  called  up  to  active  duty  for the time and
11    effort needed to deal  with  the  absent  spouse's  interests
12    while the absent spouse is away on active duty.
13        (b)  Credit.   For  taxable  years  ending  on  or  after
14    December 31, 2003, each taxpayer  is  entitled  to  a  credit
15    against the tax imposed by subsections (a) and (b) of Section
16    201  in the amount of $1,000 per taxable year if, at any time
17    during the taxable year,  the  taxpayer's  spouse  served  on
18    active  duty  in  the  Illinois  National  Guard or a reserve
19    component of the armed forces of the United States.
20        (c)  Carryforward. If the amount of  the  credit  exceeds
21    the  tax  liability  for  the year, the excess may be carried
22    forward and applied to the tax liability of  the  10  taxable
23    years  following  the excess credit year. The credit shall be
24    applied to the  earliest  year  for  which  there  is  a  tax
25    liability.  If  there are credits from more than one tax year
26    that are available to offset a liability, the earlier  credit
27    shall be applied first.
28        (d)  Sunset  exemption.  This  Section is exempt from the
29    provisions of Section 250.

30        Section 99.  Effective date.  This Act takes effect  upon
 
                            -2-      LRB093 03734 SJM 03764 b
 1    becoming law.