HB2645 101ST GENERAL ASSEMBLY

LRB101 09352 HLH 54448 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2645

Introduced , by Rep. Stephanie A. Kifowit

SYNOPSIS AS INTRODUCED:

35 ILCS 5/229 new

Amends the Illinois Income Tax Act. Provides that each taxpayer that makes a donation during the taxable year to a startup of an adult day program for adults with intellectual and developmental disabilities is entitled to an income tax credit in an amount equal to the amount of the donation. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Income Tax Act is amended by adding Section 229 as follows:

(35 ILCS 5/229 new)

Sec. 229. Credit for donations to adult day programs.

(a) For taxable years beginning on or after January 1, 2020, each taxpayer that makes a donation during the taxable year to a startup of an adult day program for adults with intellectual and developmental disabilities is entitled to a credit against the tax imposed by subsections (a) and (b) of Section 201 in an amount equal to the amount of the donation. The Department of Human Services shall adopt rules for the certification of eligible adult day programs.

(b) For partners, shareholders of Subchapter S corporations, and owners of limited liability companies, if the entity is treated as a partnership for purposes of federal and State income taxation, there shall be allowed a credit under this Section to be determined in accordance with the determination of income and distributive share of income under Sections 702 and 704 and Subchapter S of the Internal Revenue Code.

(c) In no event shall a credit under this Section reduce a taxpayer's liability to less than zero. If the amount of credit exceeds the tax liability for the year, the excess may be carried forward and applied to the tax liability for the 5 taxable years following the excess credit year. The tax credit shall be applied to the earliest year for which there is a tax liability. If there are credits for more than one year that are available to offset liability, the earlier credit shall be applied first.

(d) This Section is exempt from the provisions of Section 250.

Section 99. Effective date. This Act takes effect upon becoming law.