Illinois General Assembly - Full Text of HB0297
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Full Text of HB0297  99th General Assembly




State of Illinois
2015 and 2016


Introduced , by Rep. Jack D. Franks


35 ILCS 5/212

    Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2015, the earned income tax credit shall be 15% (instead of 10%) of the federal credit. Effective immediately.

LRB099 04088 HLH 24107 b






HB0297LRB099 04088 HLH 24107 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
5changing Section 212 as follows:
6    (35 ILCS 5/212)
7    Sec. 212. Earned income tax credit.
8    (a) With respect to the federal earned income tax credit
9allowed for the taxable year under Section 32 of the federal
10Internal Revenue Code, 26 U.S.C. 32, each individual taxpayer
11is entitled to a credit against the tax imposed by subsections
12(a) and (b) of Section 201 in an amount equal to (i) 5% of the
13federal tax credit for each taxable year beginning on or after
14January 1, 2000 and ending prior to December 31, 2012, (ii)
157.5% of the federal tax credit for each taxable year beginning
16on or after January 1, 2012 and ending prior to December 31,
172013, and (iii) 10% of the federal tax credit for each taxable
18year beginning on or after January 1, 2013 and ending prior to
19December 31, 2015, and (iv) 15% of the federal tax credit for
20each taxable year beginning on or after January 1, 2015.
21    For a non-resident or part-year resident, the amount of the
22credit under this Section shall be in proportion to the amount
23of income attributable to this State.



HB0297- 2 -LRB099 04088 HLH 24107 b

1    (b) For taxable years beginning before January 1, 2003, in
2no event shall a credit under this Section reduce the
3taxpayer's liability to less than zero. For each taxable year
4beginning on or after January 1, 2003, if the amount of the
5credit exceeds the income tax liability for the applicable tax
6year, then the excess credit shall be refunded to the taxpayer.
7The amount of a refund shall not be included in the taxpayer's
8income or resources for the purposes of determining eligibility
9or benefit level in any means-tested benefit program
10administered by a governmental entity unless required by
11federal law.
12    (c) This Section is exempt from the provisions of Section
14(Source: P.A. 97-652, eff. 6-1-12.)
15    Section 99. Effective date. This Act takes effect upon
16becoming law.