Full Text of SB1152 103rd General Assembly
SB1152sam001 103RD GENERAL ASSEMBLY | Sen. Sue Rezin Filed: 3/29/2023
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| 1 | | AMENDMENT TO SENATE BILL 1152
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1152 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Income Tax Act is amended by | 5 | | changing Section 204 as follows:
| 6 | | (35 ILCS 5/204) (from Ch. 120, par. 2-204)
| 7 | | Sec. 204. Standard exemption.
| 8 | | (a) Allowance of exemption. In computing net income under | 9 | | this Act, there
shall be allowed as an exemption the sum of the | 10 | | amounts determined under
subsections (b), (c) and (d), | 11 | | multiplied by a fraction the numerator of which
is the amount | 12 | | of the taxpayer's base income allocable to this State for the
| 13 | | taxable year and the denominator of which is the taxpayer's | 14 | | total base income
for the taxable year.
| 15 | | (b) Basic amount. For the purpose of subsection (a) of | 16 | | this Section,
except as provided by subsection (a) of Section |
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| 1 | | 205 and in this
subsection, each taxpayer shall be allowed a | 2 | | basic amount of $1000, except
that for corporations the basic | 3 | | amount shall be zero for tax years ending on
or
after December | 4 | | 31, 2003, and for individuals the basic amount shall be:
| 5 | | (1) for taxable years ending on or after December 31, | 6 | | 1998 and prior to
December 31, 1999, $1,300;
| 7 | | (2) for taxable years ending on or after December 31, | 8 | | 1999 and prior to
December 31, 2000, $1,650;
| 9 | | (3) for taxable years ending on or after December 31, | 10 | | 2000 and prior to December 31, 2012, $2,000;
| 11 | | (4) for taxable years ending on or after December 31, | 12 | | 2012 and prior to December 31, 2013, $2,050; | 13 | | (5) for taxable years ending on or after December 31, | 14 | | 2013 and on or before December 31, 2023, $2,050 plus the | 15 | | cost-of-living adjustment under subsection (d-5). | 16 | | For taxable years ending on or after December 31, 1992, a | 17 | | taxpayer whose
Illinois base income exceeds the basic amount | 18 | | and who is claimed as a dependent
on another person's tax | 19 | | return under the Internal Revenue Code shall
not be allowed | 20 | | any basic amount under this subsection.
| 21 | | (c) Additional amount for individuals. In the case of an | 22 | | individual
taxpayer, there shall be allowed for the purpose of | 23 | | subsection (a), in
addition to the basic amount provided by | 24 | | subsection (b), an additional
exemption equal to the basic | 25 | | amount for each
exemption in excess of one
allowable to such | 26 | | individual taxpayer for the taxable year under Section
151 of |
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| 1 | | the Internal Revenue Code.
| 2 | | (d) Additional exemptions for an individual taxpayer and | 3 | | his or her
spouse. In the case of an individual taxpayer and | 4 | | his or her spouse, he or
she shall each be allowed additional | 5 | | exemptions as follows:
| 6 | | (1) Additional exemption for taxpayer or spouse 65 | 7 | | years of age or older.
| 8 | | (A) For taxpayer. If the taxpayer An additional | 9 | | exemption of $1,000 for the taxpayer if
he or she has | 10 | | attained the age of 65 before the end of the taxable | 11 | | year , then an additional exemption of (i) $1,000 for | 12 | | taxable years beginning prior to January 1, 2023 and | 13 | | (ii) $2,000 for taxable years beginning on or after | 14 | | January 1, 2023 .
| 15 | | (B) For spouse when a joint return is not filed. If | 16 | | An additional
exemption of $1,000 for the spouse of | 17 | | the taxpayer if a joint return is not
made by the | 18 | | taxpayer and his spouse, and if the spouse has | 19 | | attained the age
of 65 before the end of such taxable | 20 | | year, and, for the calendar year in
which the taxable | 21 | | year of the taxpayer begins, has no gross income and is
| 22 | | not the dependent of another taxpayer , then an | 23 | | additional exemption of (i) $1,000 for taxable years | 24 | | beginning prior to January 1, 2023 and (ii) $2,000 for | 25 | | taxable years beginning on or after January 1, 2023 .
| 26 | | (2) Additional exemption for blindness of taxpayer or |
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| 1 | | spouse.
| 2 | | (A) For taxpayer. An additional exemption of | 3 | | $1,000 for the taxpayer if
he or she is blind at the | 4 | | end of the taxable year.
| 5 | | (B) For spouse when a joint return is not filed. An | 6 | | additional
exemption of $1,000 for the spouse of the | 7 | | taxpayer if a separate return is made
by the taxpayer, | 8 | | and if the spouse is blind and, for the calendar year | 9 | | in which
the taxable year of the taxpayer begins, has | 10 | | no gross income and is not the
dependent of another | 11 | | taxpayer. For purposes of this paragraph, the
| 12 | | determination of whether the spouse is blind shall be | 13 | | made as of the end of the
taxable year of the taxpayer; | 14 | | except that if the spouse dies during such
taxable | 15 | | year such determination shall be made as of the time of | 16 | | such death.
| 17 | | (C) Blindness defined. For purposes of this | 18 | | subsection, an individual
is blind only if his or her | 19 | | central visual acuity does not exceed 20/200 in
the | 20 | | better eye with correcting lenses, or if his or her | 21 | | visual acuity is
greater than 20/200 but is | 22 | | accompanied by a limitation in the fields of
vision | 23 | | such that the widest diameter of the visual fields | 24 | | subtends an angle
no greater than 20 degrees.
| 25 | | (d-5) Cost-of-living adjustment. For purposes of item (5) | 26 | | of subsection (b), the cost-of-living adjustment for any |
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| 1 | | calendar year and for taxable years ending prior to the end of | 2 | | the subsequent calendar year is equal to $2,050 times the | 3 | | percentage (if any) by which: | 4 | | (1) the Consumer Price Index for the preceding | 5 | | calendar year, exceeds | 6 | | (2) the Consumer Price Index for the calendar year | 7 | | 2011. | 8 | | The Consumer Price Index for any calendar year is the | 9 | | average of the Consumer Price Index as of the close of the | 10 | | 12-month period ending on August 31 of that calendar year. | 11 | | The term "Consumer Price Index" means the last Consumer | 12 | | Price Index for All Urban Consumers published by the United | 13 | | States Department of Labor or any successor agency. | 14 | | If any cost-of-living adjustment is not a multiple of $25, | 15 | | that adjustment shall be rounded to the next lowest multiple | 16 | | of $25. | 17 | | (e) Cross reference. See Article 3 for the manner of | 18 | | determining
base income allocable to this State.
| 19 | | (f) Application of Section 250. Section 250 does not apply | 20 | | to the
amendments to this Section made by Public Act 90-613.
| 21 | | (g) Notwithstanding any other provision of law, for | 22 | | taxable years beginning on or after January 1, 2017, no | 23 | | taxpayer may claim an exemption under this Section if the | 24 | | taxpayer's adjusted gross income for the taxable year exceeds | 25 | | (i) $500,000, in the case of spouses filing a joint federal tax | 26 | | return or (ii) $250,000, in the case of all other taxpayers. |
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| 1 | | (Source: P.A. 100-22, eff. 7-6-17; 100-865, eff. 8-14-18.)
| 2 | | Section 99. Effective date. This Act takes effect upon | 3 | | becoming law.".
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