|
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4933 Introduced 2/18/2020, by Rep. David A. Welter SYNOPSIS AS INTRODUCED:
|
| |
Amends the Illinois Income Tax Act. Creates a credit for costs associated with the adoption of a cat or dog. Provides that the credit may not exceed $250 and may not be taken for more than 3 animals per taxpayer. Effective immediately.
|
| |
| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
|
|
| | HB4933 | | LRB101 16914 HLH 66313 b |
|
|
| 1 | | AN ACT concerning revenue.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Illinois Income Tax Act is amended by adding |
| 5 | | Section 232 as follows:
|
| 6 | | (35 ILCS 5/232 new) |
| 7 | | Sec. 232. Pet adoption credit. |
| 8 | | (a) For taxable years beginning on or after January 1, |
| 9 | | 2020, there shall be allowed a credit against the tax imposed |
| 10 | | by subsections (a) and (b) of Section 201 of this Act in an |
| 11 | | amount equal to the expenses paid or incurred, not to exceed |
| 12 | | $250 in any taxable year, by a taxpayer for costs associated |
| 13 | | with the adoption of a cat or dog from a pound, shelter, duly |
| 14 | | incorporated society for the prevention of cruelty to animals, |
| 15 | | humane society, dog, cat, or other protective or rescue |
| 16 | | association. The credit allowed under this Section shall be |
| 17 | | allowed for a maximum of 3 animals per taxpayer. |
| 18 | | (b) In no event shall a credit under this Section reduce a |
| 19 | | taxpayer's liability to less than zero. If the amount of the |
| 20 | | credit exceeds the tax liability for the year, the excess may |
| 21 | | be carried forward and applied to the tax liability for the 5 |
| 22 | | taxable years following the excess credit year. The tax credit |
| 23 | | shall be applied to the earliest year for which there is a tax |