093_HB3018

                                     LRB093 09473 SJM 09708 b

 1        AN ACT concerning senior citizens and disabled persons.

 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.   For  grant  years 2003 and before, "income"
 9    means adjusted gross income, properly reportable for  federal
10    income  tax  purposes  under  the  provisions of the Internal
11    Revenue Code, modified by  adding  thereto  the  sum  of  the
12    following  amounts  to  the  extent deducted or excluded from
13    gross income in the computation of 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 09473 SJM 09708 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.
13        This amendatory  Act  of  1987  shall  be  effective  for
14    purposes  of  this  Section  for tax years ending on or after
15    December 31, 1987.
16        For grant  years  2004  and  thereafter,  "income"  means
17    taxable  income,  properly  reportable for federal income tax
18    purposes under the provisions of the Internal Revenue Code.
19    (Source: P.A. 91-676, eff. 12-23-99;  92-131,  eff.  7-23-01;
20    92-519, eff. 1-1-02.)