[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] |
92_HB0214ham001
LRB9202490SMdvam01
1 AMENDMENT TO HOUSE BILL 214
2 AMENDMENT NO. . Amend House Bill 214 by replacing
3 the title with the following:
4 "AN ACT in relation to taxes."; and
5 by replacing everything after the enacting clause with the
6 following:
7 "Section 5. The Illinois Income Tax Act is amended by
8 adding Section 213 as follows:
9 (35 ILCS 5/213 new)
10 Sec. 213. Medical care expense tax credit. Beginning
11 with taxable years ending on or after December 31, 2001, each
12 individual taxpayer is entitled to a credit against the tax
13 imposed by subsections (a) and (b) of Section 201 in an
14 amount equal to the amount allowed as a deduction under
15 Section 213 of the Internal Revenue Code for medical care
16 expenses, up to $500 in a taxable year. The tax credit may
17 not reduce the taxpayer's liability to less than zero. If
18 the amount of the credit exceeds the tax liability for the
19 year, the excess may be carried forward and applied to the
20 tax liability of the 2 taxable years following the excess
21 credit year. The credit shall be applied to the earliest
-2- LRB9202490SMdvam01
1 year for which there is a tax liability. If there are
2 credits from more than one tax year that are available to
3 offset a liability, the earlier credit shall be applied
4 first. This Section is exempt from the provisions of Section
5 250.
6 Section 99. Effective date. This Act takes effect upon
7 becoming law.".