Rep. Thomas M. Bennett
Filed: 2/14/2022
 
 

 

 

 
10200HB4329ham001LRB102 21980 HLH 35746 a



1
AMENDMENT TO HOUSE BILL 4329 




2    AMENDMENT NO. ______. Amend House Bill 4329 by replacing 
3everything after the enacting clause with the following:


 
 
4    "Section 5. The Illinois Income Tax Act is amended  by 
5adding Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Credit for internship employment.
8    (a) For taxable years ending on or after December 31, 
92023, each taxpayer who has been issued a certificate of 
10verification by the Department of Commerce and Economic 
11Opportunity for the taxable year, as provided in subsection 
12(b), is entitled to a credit against the tax imposed by 
13subsections (a) and (b) of Section 201 of this Act in an amount 
14equal to 10% of the stipend or salary paid by the taxpayer to 
15up to 5 qualified interns during the taxable year. No taxpayer 
16may be issued a certificate of verification under subsection 
 
 
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1(b) for more than $5,000 in total credits under this Section 
2for all taxable years combined.
3    (b) The taxpayer may request a certificate  of verification 
4to receive credits under this Section by formal application to 
5the Department of Commerce and Economic Opportunity. The 
6Department of Commerce and Economic Opportunity shall adopt 
7rules to implement this Section. The taxpayer shall attach a 
8copy of the certificate of verification to its income tax 
9return under this Act for the taxable year. 
10    (c) If the taxpayer is a partnership or Subchapter S 
11corporation, the credit shall be allowed to the partners or 
12shareholders in accordance with the determination of income 
13and distributive share of income under Sections 702 and 704 
14and Subchapter S of the Internal Revenue Code. 
15    (d) For purposes of this Section: 
16    "Institution of higher education" has the meaning given to 
17that term in Section 1001 of Title 20 of the United States 
18Code. 
19    "Qualified college intern" means an enrolled student at an 
20institution of higher education located in the State or a 
21vocational technical education program located in the State 
22(i) who is seeking a degree or certification of completion in a 
23major field of study closely related to the work experience 
24performed for the taxpayer, (ii) whose internship is taken for 
25academic credit or counts toward the completion of a 
26vocational technical education program, (iii) who is 
 
 
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1supervised and evaluated by the taxpayer, and (iv) whose 
2position is located in Illinois. 
3    "Qualified high school intern" means an enrolled student 
4in an Illinois high school whose internship is (i)  taken for 
5academic credit or counts toward the completion of an 
6education program, (ii) supervised and evaluated by the 
7taxpayer, and (iii) located in Illinois. 
8    "Qualified intern" means a qualified college intern or a 
9qualified high school intern. 
10    "Vocational technical education program" means a program 
11offered by an institution that qualifies as an area career and 
12technical education school under subparagraphs (C) and (D) of 
13paragraph (3) of Section 2302 of Title 20 of the United States 
14Code. 
15    (e) In no event shall a credit under this Section reduce 
16the taxpayer's liability to less than zero. If the amount of 
17the credit exceeds the taxpayer's liability for the taxable 
18year, the excess credit amounts may not be carried forward, 
19carried back, or refunded to the taxpayer. 
20    (f) This Section is exempt from the provisions of Section 
21250. 
 
 
22    Section 99. Effective date. This Act takes effect upon 
23becoming law.".