SB1554 96TH GENERAL ASSEMBLY

LRB096 10886 HLH 21123 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1554

Introduced 2/18/2009, by Sen. John J. Millner

SYNOPSIS AS INTRODUCED:

35 ILCS 5/218 new

Amends the Illinois Income Tax Act. Creates a credit in an amount equal to all amounts paid by the taxpayer on behalf of the taxpayer's employees for the purpose of learning a second language. Provides that the credit is exempt from the Act's sunset provisions. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

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

Section 5. The Illinois Income Tax Act is amended by adding Section 218 as follows:

(35 ILCS 5/218 new)

Sec. 218. Language training credit.

(a) For taxable years ending on or after December 31, 2009, each taxpayer is allowed a credit against the tax imposed by subsections (a) and (b) of Section 201 in an amount equal to all amounts paid by the taxpayer on behalf of the taxpayer's employees for the purpose of learning a second language, including, but not limited to, English as a second language. For partners, shareholders of subchapter S corporations, and owners of limited liability companies, if the liability company is treated as a partnership for purposes of federal and State income taxation, there shall be allowed a credit under this subsection (j) to be determined in accordance with the determination of income and distributive share of income under Sections 702 and 704 and subchapter S of the Internal Revenue Code.

(b) Any credit allowed under this subsection which is unused in the year the credit is earned may be carried forward to each of the 5 taxable years following the year for which the credit is first computed until it is used. This credit shall be applied first to the earliest year for which there is a liability. If there is a credit under this subsection from more than one tax year that is available to offset a liability the earliest credit arising under this subsection shall be applied first.

(c) This Section is exempt from the provisions of Section 250.

Section 99. Effective date. This Act takes effect upon becoming law.