102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2386

 

Introduced 2/17/2021, by Rep. Dave Vella

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/232 new

    Amends the Illinois Income Tax Act. Provides that each taxpayer business is entitled to an income tax credit in an amount equal to 100% of the costs incurred by the taxpayer in paying for screenings, treatments, and recommendations associated with individual employees' physical, mental, and emotional wellness. Effective immediately.


LRB102 12920 HLH 18263 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2386LRB102 12920 HLH 18263 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by
5adding Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Credit for expenses associated with employee
8wellness.
9    (a) For taxable years beginning on or after January 1,
102022, each taxpayer business is entitled to a credit against
11the taxes imposed by subsections (a) and (b) of Section 201 in
12an amount equal to 100% of the costs incurred by the taxpayer
13in paying for screenings, treatments, and recommendations
14associated with individual employees' physical, mental, and
15emotional wellness.
16    (b) In no event shall a credit under this Section reduce
17the taxpayer's liability to less than zero. If the amount of
18the credit exceeds the tax liability for the year, the excess
19may be carried forward and applied to the tax liability of the
205 taxable years following the excess credit year. The tax
21credit shall be applied to the earliest year for which there is
22a tax liability. If there are credits for more than one year
23that are available to offset a liability, the earlier credit

 

 

HB2386- 2 -LRB102 12920 HLH 18263 b

1shall be applied first.
2    (c) For partners, shareholders of subchapter S
3corporations, and owners of limited liability companies, if
4the liability company is treated as a partnership for purposes
5of federal and State income taxation, there shall be allowed a
6credit under this Section to be determined in accordance with
7the determination of income and distributive share of income
8under Sections 702 and 704 and subchapter S of the Internal
9Revenue Code.
10    (d) This Section is exempt from the provisions of Section
11250.
 
12    Section 99. Effective date. This Act takes effect upon
13becoming law.