093_HB2464
LRB093 09902 DRJ 10152 b
1 AN ACT in relation to aging.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Senior Citizens and Disabled Persons
5 Property Tax Relief and Pharmaceutical Assistance Act is
6 amended by changing Section 3.07 as follows:
7 (320 ILCS 25/3.07) (from Ch. 67 1/2, par. 403.07)
8 Sec. 3.07. "Income" means adjusted gross income,
9 properly reportable for federal income tax purposes under the
10 provisions of the Internal Revenue Code, modified by adding
11 thereto the sum of the following amounts to the extent
12 deducted or excluded from gross income in the computation of
13 adjusted gross income:
14 (A) An amount equal to all amounts paid or accrued
15 as interest or dividends during the taxable year;
16 (B) An amount equal to the amount of tax imposed by
17 the Illinois Income Tax Act paid for the taxable year;
18 (C) An amount equal to all amounts received during
19 the taxable year as an annuity under an annuity,
20 endowment or life insurance contract or under any other
21 contract or agreement;
22 (D) An amount equal to the amount of benefits paid
23 under the Federal Social Security Act during the taxable
24 year;
25 (E) An amount equal to the amount of benefits paid
26 under the Railroad Retirement Act during the taxable
27 year;
28 (F) An amount equal to the total amount of cash
29 public assistance payments received from any governmental
30 agency during the taxable year other than benefits
31 received pursuant to this Act;
-2- LRB093 09902 DRJ 10152 b
1 (G) An amount equal to any net operating loss
2 carryover deduction or capital loss carryover deduction
3 during the taxable year;
4 (H) For claim years beginning on or after January
5 1, 2002, an amount equal to any benefits received under
6 the Workers' Compensation Act or the Workers'
7 Occupational Diseases Act during the taxable year.
8 "Income" does not include any grant assistance received
9 under the Nursing Home Grant Assistance Act or any
10 distributions or items of income described under subparagraph
11 (X) of paragraph (2) of subsection (a) of Section 203 of the
12 Illinois Income Tax Act. "Income" does not include any
13 payment received on account of a military service connected
14 disability.
15 This amendatory Act of 1987 shall be effective for
16 purposes of this Section for tax years ending on or after
17 December 31, 1987.
18 (Source: P.A. 91-676, eff. 12-23-99; 92-131, eff. 7-23-01;
19 92-519, eff. 1-1-02.)