101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4629
 
Introduced 2/5/2020, by Rep. Sonya M. Harper
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/232 new

     Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who (i) are engaged in business as a healthy food retailer and (ii) during the taxable year, first locate a healthy food retail establishment in an area designated by the Department of Agriculture as a food desert. Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
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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 adding 
5Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Credit for healthy food retailers.
8    (a) For taxable years ending on or after December 31, 2020, 
9each taxpayer who (i) is engaged in business as a healthy food 
10retailer and (ii) during the taxable year, first locates a 
11healthy food retail establishment in an area designated by the 
12Department of Agriculture as a food desert is entitled to a 
13credit against the taxes imposed by subsections (a) and (b) of 
14Section 201. The credit shall be in an amount equal to: (i) 15% 
15of the taxpayer's liability under this Act, calculated without 
16regard to the credit under this Section, for newly constructed 
17stores; or (ii) 10% of the taxpayer's liability under this Act, 
18calculated without regard to the credit under this Section, for 
19remodeled or rehabilitated stores. 
20    (b) For partners, shareholders of subchapter S 
21corporations, and owners of limited liability companies, if the 
22liability company is treated as a partnership for purposes of 
23federal and State income taxation, there shall be allowed a 
 
 
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1credit under this Section to be determined in accordance with 
2the determination of income and distributive share of income 
3under Sections 702 and 704 and subchapter S of the Internal 
4Revenue Code. 
5    (c) As used in this Section: 
6        "Healthy food retailer" means a person that owns and 
7    operates a healthy food retail establishment. 
8        "Healthy food retail establishment" means a grocery 
9    store or other business that sells food at retail for human 
10    consumption that is to be consumed off the premises where 
11    it is sold where at least 35% of the establishment's food 
12    inventory, by cost value, consists of fresh produce, 
13    poultry, dairy, and deli items. 
 
 
14    Section 99. Effective date. This Act takes effect upon 
15becoming law.