093_HB3000

 
                                     LRB093 08421 SJM 08643 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.  Teacher's instructional materials credit.
 8        (a)  Beginning with taxable  years  ending  on  or  after
 9    December  31, 2004, each individual taxpayer who is a teacher
10    at a qualifying school is entitled to a  credit  against  the
11    tax  imposed by subsections (a) and (b) of Section 201 in the
12    amount equal to 50% of the amount spent by  the  taxpayer  in
13    the  taxable  year for instructional materials for use in the
14    classroom. The  Department  shall  establish  by  rule  those
15    expenses that are eligible for the credit under this Section.
16    The  tax  credit  may  not reduce the taxpayer's liability to
17    less than zero.
18        (b)  If  the  amount  of  the  credit  exceeds  the   tax
19    liability for the year, the excess may be carried forward and
20    applied to the tax liability of the 5 taxable years following
21    the  excess  credit  year. The credit shall be applied to the
22    earliest year for which there is a tax  liability.  If  there
23    are credits from more than one tax year that are available to
24    offset  a  liability,  the  earlier  credit  shall be applied
25    first.
26        (c)  As used in this Section:
27        "Teacher" means a person  employed  in  an  instructional
28    position at a qualifying school.
29        "Qualifying   school"   means   either  (i)  a  nonprofit
30    elementary or secondary school  in  Illinois,  other  than  a
31    public  school,  that  is  in compliance with Title VI of the
 
                            -2-      LRB093 08421 SJM 08643 b
 1    Civil Rights Act of 1964 and attendance  at  which  satisfies
 2    the requirements of Section 26-1 of the School Code or (ii) a
 3    public elementary or secondary school.

 4        Section  99.  Effective  date. This Act takes effect upon
 5    becoming law.