103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3635
 
Introduced 2/17/2023, by Rep. Abdelnasser Rashid
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/234 new

     Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who (1) paid rent on a personal residence in Illinois for at least 6 months during the taxable year; (2) are not claimed as a dependent on someone else's federal income taxes for the taxable year; and (3) have a federal adjusted gross income of less than $83,250, if the taxpayer is married filing a joint return, or $40,770, if the taxpayer is not married filing a joint return. Provides that, if the taxpayer is married filing a joint return, then the amount of the credit is $1,000 for both taxpayers as a single unit. Provides that, if the taxpayer is not married filing a joint return, then the amount of the credit is $500. Effective immediately.
  


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A BILL FOR
 

  
HB3635LRB103 29643 HLH 56040 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 234 as follows:
 
6    (35 ILCS 5/234 new)
7    Sec. 234. Renter's credit.
8    (a) For taxable years beginning on or after January 1, 
92024, each qualified taxpayer is entitled to a tax credit as 
10provided in this Section. If the taxpayer is married filing a 
11joint return, then the amount of the credit is $1,000 for both 
12taxpayers as a single unit. For all other individual 
13taxpayers, the amount of the credit is $500. 
14    (b) The credit or credits may not reduce the taxpayer's


15liability to less than zero. Excess credit amounts may not be 
16refunded to the taxpayer. 
17    (c) As used in this Section, "qualified taxpayer" means an 
18individual taxpayer who: 
19        (1) paid rent on the taxpayer's personal residence in 
20    Illinois for at least 6 months during the taxable year; 
21        (2) is not claimed as a dependent on someone else's 
22    federal income taxes for the taxable year; and 
23        (3) has a federal adjusted gross income of less than 
 
 
HB3635- 2 -LRB103 29643 HLH 56040 b

1    $83,250, if the taxpayer is married filing a joint return, 
2    or $40,770, if the taxpayer is not married filing a joint 
3    return. 
4    (d) This Section is exempt from the provisions of Section 
5250. 
 
 
6    Section 99. Effective date. This Act takes effect upon 
7becoming law.