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| | 09700HB4970ham001 | - 2 - | LRB097 14490 HLH 66470 a |
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1 | | moneys from the disabled veterans income tax checkoff created |
2 | | in Section 507AAA of the Illinois Income Tax Act, as well as |
3 | | public and private donations. All federal funds made available |
4 | | to the State for the purpose of aiding veterans in updating or |
5 | | replacing prostheses shall be deposited into the Veterans' |
6 | | Prosthesis Fund. |
7 | | Section 10. The Illinois Income Tax Act is amended by |
8 | | adding Section 507AAA as follows: |
9 | | (35 ILCS 5/507AAA new) |
10 | | Sec. 507AAA. Disabled veterans checkoff. For taxable years |
11 | | ending on or after December 31, 2012, the Department shall |
12 | | print, on its standard individual income tax form, a provision |
13 | | indicating that, if the taxpayer wishes to contribute to funds |
14 | | established for the purpose of assisting disabled veterans and |
15 | | their families, as authorized by this amendatory Act of the |
16 | | 97th General Assembly, then he or she may do so by stating the |
17 | | amount of the contribution (not less than $1) on the return and |
18 | | indicating that the contribution will reduce the taxpayer's |
19 | | refund or increase the amount of payment to accompany the |
20 | | return. Of the moneys collected under this Section: one-third |
21 | | shall be deposited into the Veterans' Prosthesis Fund; |
22 | | one-third shall be deposited into the Illinois Military Family |
23 | | Relief Fund; and one-third shall be deposited into the Disabled |
24 | | Veterans Property Tax Relief Fund. The taxpayer's failure to |