101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB3009
 
Introduced 2/5/2020, by Sen. Omar Aquino
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/232 new

     Amends the Illinois Income Tax Act. Provides that each qualified teacher is entitled to an income tax credit in an aggregate amount equal to 50% of the tuition costs incurred by that teacher at a public university in the State. Provides that each qualified teacher may take no more than 20% of his or her aggregate credit amount in any taxable year. Provides that the term "qualified teacher" means an individual who (i) graduated from a public university in the State, (ii) is employed as a teacher in this State during the taxable year, and (iii) has been employed as a teacher in the State for at least 5 consecutive years as of the first day of the taxable year. Effective immediately.
  


LRB101 17959 HLH 67395 b

FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
SB3009LRB101 17959 HLH 67395 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 adding 
5Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Credit for qualified teachers.
8    (a) For taxable years ending on or after December 31, 2020, 
9each qualified teacher is entitled to a credit against the 
10taxes imposed by subsections (a) and (b) of Section 201 in an 
11aggregate amount equal to 50% of the tuition costs incurred by 
12that teacher at a public university in the State. Each 
13qualified teacher may take no more than 20% of his or her 
14aggregate credit amount in any taxable year. 
15    (b) In no event shall a credit under this Section reduce a 
16taxpayer's liability to less than zero. If the amount of credit 
17exceeds the tax liability for the year, the excess may be 
18carried forward and applied to the tax liability for the 5 
19taxable years following the excess credit year. The tax credit 
20shall be applied to the earliest year for which there is a tax 
21liability. If there are credits for more than one year that are 
22available to offset liability, the earlier credit shall be 
23applied first. 
 
 
SB3009- 2 -LRB101 17959 HLH 67395 b

1    (c) As used in this Section, "qualified teacher" means an 
2individual who (i) graduated from a public university in the 
3State, (ii) is employed as a teacher in this State during the 
4taxable year, and (iii) has been employed as a teacher in the 
5State for at least 5 consecutive years as of the first day of 
6the taxable year. 
7    (d) This Section is exempt from the provisions of Section 
8250. 
 
 
9    Section 99. Effective date. This Act takes effect upon 
10becoming law.