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91_SB0340
LRB9102750PTpk
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
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 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Dependent credit. For taxable years beginning
9 on and after January 1, 1999, an individual taxpayer is
10 entitled to a credit against the taxes imposed by subsections
11 (a) and (b) of Section 201 in an amount equal to $100 for
12 each additional exemption claimed under subsection (c) of
13 Section 204 for a dependent under the age of 18. If the
14 amount of a credit exceeds the tax liability for the year,
15 then the excess may be carried forward and applied to the tax
16 liability of the 3 taxable years following the excess credit
17 year. A credit shall be applied to the earliest year for
18 which there is a tax liability. If there are credits from
19 more than one taxable year that are available to offset a
20 liability, then the earlier credit shall be applied first.
21 This Section is exempt from the provisions of Section 250.
22 Section 99. Effective date. This Act takes effect upon
23 becoming law.