103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB4250

 

Introduced 1/16/2024, by Rep. Maurice A. West, II

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/241 new

    Amends the Illinois Income Tax Act. Creates an income tax credit of $250 for taxpayers who make 4 or more qualified donations of human whole blood or human blood components during the taxable year. Effective immediately.


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A BILL FOR

 

HB4250LRB103 35602 HLH 65675 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by
5adding Section 241 as follows:
 
6    (35 ILCS 5/241 new)
7    Sec. 241. Credit for blood bank donations.
8    (a) For taxable years beginning on or after January 1,
92025, each taxpayer is entitled to a credit against the taxes
10imposed by subsections (a) and (b) of Section 201 in the amount
11of $250, provided that (i) the taxpayer made at least 4
12donations of human whole blood or human blood components
13during the taxable year in which the credit is claimed and (ii)
14each donation was made to a blood bank, as defined in the
15Illinois Clinical Laboratory and Blood Bank Act, that
16qualified as an exempt organization under Section 501(c)(3) of
17the Internal Revenue Code during the taxable year in which the
18donation was made.
19    (b) In no event shall a credit under this Section reduce
20the taxpayer's liability to less than zero. If the amount of
21the credit exceeds the tax liability for the year, the excess
22may be carried forward and applied to the tax liability of the
235 taxable years following the excess credit year. The tax

 

 

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1credit shall be applied to the earliest year for which there is
2a tax liability. If there are credits for more than one year
3that are available to offset a liability, the earlier credit
4shall be applied first.
5    (c) This Section is exempt from the provisions of Section
6250.
7    (d) As used in this Section:
8    "Human blood components" means any one or more of the
9following derived from human whole blood: red blood cells,
10white blood cells, platelets, or plasma.
11    (e) The Department shall adopt any rules necessary to
12implement and administer this Section.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.