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91_HB3546
LRB9111469SMdv
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 212.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 212 as follows:
7 (35 ILCS 5/212 new)
8 Sec. 212. Earned income tax credit.
9 (a) With respect to the federal earned income tax credit
10 allowed for the taxable year under Section 32 of the federal
11 Internal Revenue Code, 26 U.S.C. 32, each individual taxpayer
12 is entitled to a credit against the tax imposed by
13 subsections (a) and (b) of Section 201 in an amount equal to
14 the following percentage of the federal credit:
15 (1) For taxable year 2000, 10%.
16 (2) For taxable years 2001 and 2002, 15%.
17 (3) For taxable year 2003 and thereafter, 20%.
18 For a non resident or part-year resident, the amount of the
19 credit under this Section shall be reduced by multiplying the
20 amount of the credit by the percentage of income allocated to
21 this State.
22 (b) If the amount of the credit exceeds the tax
23 liability for the year, then the excess credit shall be
24 refunded to the taxpayer. The amount of a refund shall not
25 be included in the taxpayer's income or resources for the
26 purposes of determining eligibility or benefit level in any
27 means-tested benefit program administered by a governmental
28 entity unless required by federal law.
29 (c) The Department shall calculate the amount of the
30 earned income credit on behalf of an individual taxpayer if
31 the taxpayer (i) requests assistance on the prescribed form
-2- LRB9111469SMdv
1 and (ii) submits the required information.
2 Section 99. Effective date. This Act takes effect upon
3 becoming law.