093_HB1107eng

 
HB1107 Engrossed                     LRB093 02688 SJM 02698 b

 1        AN ACT concerning taxes.

 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
 5    adding Section 213 as follows:

 6        (35 ILCS 5/213 new)
 7        Sec. 213. Assistive technology devices tax credit.
 8        (a)  Beginning with taxable  years  ending  on  or  after
 9    December  31, 2003, each taxpayer that is a small business is
10    entitled to a credit against the tax imposed  by  subsections
11    (a) and (b) of Section 201 in the amount of 50% of the amount
12    spent  by  the  taxpayer in the taxable year, up to a maximum
13    credit of $2,500 in the taxable year, for modifications to or
14    the purchase of assistive technology devices for people  with
15    disabilities  to improve their functional capabilities on the
16    job. The Department shall establish by  rule  those  expenses
17    that  are eligible for the credit under this Section. The tax
18    credit may not reduce the taxpayer's liability to  less  than
19    zero.   This Section is exempt from the provisions of Section
20    250 of this Act.
21        (b)  If  the  amount  of  the  credit  exceeds  the   tax
22    liability for the year, the excess may be carried forward and
23    applied to the tax liability of the 5 taxable years following
24    the  excess  credit  year. The credit shall be applied to the
25    earliest year for which there is a tax  liability.  If  there
26    are credits from more than one tax year that are available to
27    offset  a  liability,  the  earlier  credit  shall be applied
28    first.
29        (c)  In this Section:
30        "Small  business"  means  a  business  that  (i)  has  14
31    employees or less and (ii) has a gross  income,  for  federal
 
HB1107 Engrossed            -2-      LRB093 02688 SJM 02698 b
 1    income  tax  purposes,  of  $3,000,000 or less in the taxable
 2    year.
 3        "Assistive technology device" means any  item,  piece  of
 4    equipment,  or product system, whether acquired commercially,
 5    off the shelf, modified,  or  customized,  that  is  used  to
 6    increase,  maintain,  or  improve  functional capabilities of
 7    people with disabilities.
 8        "People with disabilities" includes any person who has  a
 9    physical  or  mental impairment that substantially limits one
10    or more of the major life activities of the  individual;  who
11    has  a  record  of  such an impairment; or who is regarded as
12    having such an impairment.

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