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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB3861
Introduced 2/25/2005, by Rep. Eileen Lyons - Michael Tryon - Michael P. McAuliffe - Roger L. Eddy - Sidney H. Mathias, et al. SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Provides that, for taxable years ending
on
or after December 31, 2005, each taxpayer is entitled to an income tax credit
in the
amount of $1,000 per taxable year if, at any time during the taxable year, the
taxpayer's spouse served on active duty in the Illinois National Guard or a
reserve
component of the armed forces of the United States. Allows the credit to be
carried
forward for 10 years and exempts the credit from the sunset provisions of the
Act.
Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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HB3861 |
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LRB094 04086 BDD 34106 b |
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| AN ACT concerning taxes.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Income Tax Act is amended by adding |
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| Section 216 as
follows:
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| (35 ILCS 5/216 new)
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| Sec. 216. Armed service support credit.
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| (a) Intent. The armed service support credit authorized by |
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| this Section is
to
compensate the homeland spouse of a |
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| serviceperson called up to active duty for
the time
and effort |
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| needed to deal with the absent spouse's interests while the |
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| absent
spouse is
away on active duty.
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| (b) Credit. For taxable years ending on or after December |
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| 31, 2005, each
taxpayer is entitled to a credit against the tax |
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| imposed by subsections (a) and
(b) of
Section 201 in the amount |
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| of $1,000 per taxable year if, at any time during the
taxable
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| year, the
taxpayer's spouse served on active duty in the |
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| Illinois
National Guard or a
reserve component of the armed |
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| forces of the United States.
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| (c) Carryforward. If the amount of the credit exceeds the |
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| tax liability for
the year,
the excess may be carried forward |
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| and applied to the tax liability of the 10
taxable years
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| following the excess credit year. The credit shall be applied |
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| to the earliest
year for which
there is a tax liability. If |
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| there are credits from more than one tax year that
are |
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| available
to offset a liability, the earlier credit shall be |
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| applied first.
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| (d) Sunset exemption. This Section is exempt from the |
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| provisions of Section
250.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law. |
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