94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4376


 
Introduced 1/4/2006, by Rep. Jay C. Hoffman
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 5/216 new










    Amends the Illinois Income Tax Act. Allows an income tax credit for each individual taxpayer who is a teacher teaching in a school in Illinois. Provides that the amount of the credit is equal to 25% of the eligible classroom expenses  made by the taxpayer during the taxable year, but the credit may not exceed $500. Defines "eligible classroom expenses" as the aggregate amount of nonreimbursed classroom expenses made by the taxpayer during the taxable year less $250. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.
















LRB094 16187 BDD 51442 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB4376

LRB094 16187 BDD 51442 b






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    AN ACT concerning revenue.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Income Tax Act is amended  by adding 
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Section 216 as follows:
 
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    (35 ILCS 5/216  new)
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    Sec. 216. Classroom supply credit.
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    (a) For taxable years ending on or after December 31, 2005, 
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each individual taxpayer who is a teacher teaching in a school 
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in Illinois is entitled to a credit against the tax imposed by 
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subsections (a) and (b) of Section 201 in an amount equal to 
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25% of the eligible classroom expenses  made by the taxpayer 
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during the taxable year, but the credit may not exceed $500.
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    (b) For the purpose of this Section:
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    "Eligible classroom expenses" means the aggregate amount 
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of nonreimbursed classroom expenses made by the taxpayer during 
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the taxable year less $250.
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    "School" means any public or nonpublic elementary or 
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secondary school in Illinois that is in compliance with Title 
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VI of the Civil Rights Act of 1964 and attendance at which 
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satisfies the requirements of Section 26-1 of the School Code.

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    (c) The credit may not be carried forward  or  back.   In  no

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event shall a credit under this Section reduce the taxpayer's

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liability to less than zero.
 

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