95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB6691

 

Introduced , by Rep. Dennis M. Reboletti

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/218 new

    Amends the Illinois Income Tax Act. Provides that elementary and secondary school teachers are entitled to a credit under the Act in an amount equal to personal expenditures made by the teacher for teaching materials. Provides that the credit is limited to $500 or the individual's tax liability, whichever is less. Effective immediately.


LRB095 22134 HLH 52423 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB6691 LRB095 22134 HLH 52423 b

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. Classroom expense credit. For taxable years
8 beginning on or after January 1, 2008, an individual taxpayer
9 whose primary occupation is an elementary or secondary school
10 teacher is entitled to a credit against the taxes imposed by
11 subsections (a) and (b) of Section 201 of this Act in an amount
12 equal to personal expenditures made by the taxpayer for
13 teaching materials as defined by rule of the Department. The
14 amount of the credit is limited to $500 or the individual's tax
15 liability, whichever is less. If the amount of a credit exceeds
16 the tax liability for the year, then the excess may not be
17 carried forward and applied to the tax liability of a
18 succeeding taxable year. This Section is exempt from the
19 provisions of Section 250.
 
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.