95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB1709

 

Introduced 2/22/2007, by Rep. Luis Arroyo

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/218 new

    Amends the Illinois Income Tax Act. Creates a tax credit, for taxable years ending on or after December 31, 2007 and on or before December 30, 2012, for taxpayers who, during the taxable year, pay any fee or similar cost imposed by the federal government for an employee of the taxpayer to become a naturalized citizen. Provides that the amount of the credit is an amount equal to those costs. Provides that the credit may not be carried forward or back and may not reduct the taxpayer's liability to less than zero. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Income Tax Act is amended by adding
5 Section 218 as follows:
 
6     (35 ILCS 5/218 new)
7     Sec. 218. Naturalization assistance credit.
8     (a) For taxable years ending on or after December 31, 2007
9 and on or before December 30, 2012, each taxpayer who, during
10 the taxable year, pays any fee or similar cost imposed by the
11 federal government for an employee of the taxpayer to become a
12 naturalized citizen is entitled to a credit against the tax
13 imposed under subsections (a) and (b) of Section 201 in an
14 amount equal to those costs.
15     (b) For partners, shareholders of Subchapter S
16 corporations, and owners of limited liability companies, if the
17 liability company is treated as a partnership for purposes of
18 federal and State income taxation, there is allowed a credit
19 under this Section to be determined in accordance with the
20 determination of income and distributive share of income under
21 Sections 702 and 704 and Subchapter S of the Internal Revenue
22 Code.
23     (c) The credit under this Section may not be carried

 

 

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1 forward or back and may not reduce the taxpayer's liability to
2 less than zero.
 
3     Section 99. Effective date. This Act takes effect upon
4 becoming law.