Illinois General Assembly - Full Text of HB4223
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Full Text of HB4223  102nd General Assembly

HB4223ham001 102ND GENERAL ASSEMBLY

Rep. Katie Stuart

Filed: 2/9/2022

 

 


 

 


 
10200HB4223ham001LRB102 21304 HLH 35627 a

1
AMENDMENT TO HOUSE BILL 4223

2    AMENDMENT NO. ______. Amend House Bill 4223 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Income Tax Act is amended by
5adding Section 217.2 as follows:
 
6    (35 ILCS 5/217.2 new)
7    Sec. 217.2. Credit for wages paid to qualified veterans
8and spouses of qualified veterans.
9    (a) For each taxable year that begins on or after January
101, 2023 and begins prior to January 1, 2028, each taxpayer is
11entitled to a credit against the tax imposed by subsections
12(a) and (b) of Section 201 of this Act in an amount equal to
1310%, but in no event to exceed $1,200, of the gross wages paid
14by the taxpayer to a qualified veteran or the spouse of a
15qualified veteran in the course of that veteran's or spouse's
16sustained employment during the taxable year. For partners,

 

 

10200HB4223ham001- 2 -LRB102 21304 HLH 35627 a

1shareholders of Subchapter S corporations, and owners of
2limited liability companies, if the liability company is
3treated as a partnership for purposes of federal and State
4income taxation, there shall be allowed a credit under this
5Section to be determined in accordance with the determination
6of income and distributive share of income under Sections 702
7and 704 and Subchapter S of the Internal Revenue Code.
8    (b) For purposes of this Section:
9    "Active duty member of the United States Armed Forces"
10means a member of the Armed Services or Reserve Forces of the
11United States or a member of the Illinois National Guard who is
12called to active duty pursuant to an executive order of the
13President of the United States, an act of the Congress of the
14United States, or an order of the Governor.
15    "Qualified veteran" means an Illinois resident who is an
16active duty member of the United States Armed Forces or who
17meets the following criteria: (i) the person was a member of
18the Armed Forces of the United States, a member of the Illinois
19National Guard, or a member of any reserve component of the
20Armed Forces of the United States; (ii) the person served on
21active duty in connection with Operation Desert Storm,
22Operation Enduring Freedom, or Operation Iraqi Freedom; (iii)
23the person has provided, to the taxpayer, documentation
24showing that he or she was honorably discharged; and (iv) the
25person was initially hired by the taxpayer on or after January
261, 2023.

 

 

10200HB4223ham001- 3 -LRB102 21304 HLH 35627 a

1    "Sustained employment" means a period of employment that
2is not less than 185 days during the taxable year.
3    (c) In no event shall a credit under this Section reduce
4the taxpayer's liability to less than zero. If the amount of
5the credit exceeds the tax liability for the year, the excess
6may be carried forward and applied to the tax liability of the
75 taxable years following the excess credit year. The tax
8credit shall be applied to the earliest year for which there is
9a tax liability. If there are credits for more than one year
10that are available to offset a liability, the earlier credit
11shall be applied first.
12    (d) A taxpayer who claims a credit under this Section for a
13taxable year with respect to a veteran shall not be allowed a
14credit under Section 217.1 of this Act with respect to the same
15veteran for that taxable year.
 
16    (35 ILCS 5/217 rep.)
17    Section 10. The Illinois Income Tax Act is amended by
18repealing Section 217.
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.".