103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB4960

 

Introduced 2/7/2024, by Rep. Maura Hirschauer

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/241 new

    Amends the Illinois Income Tax Act. Creates an income tax credit for each taxpayer who makes a contribution during the taxable year to a domestic violence shelter or domestic violence service program administered by the Department of Human Services in an amount equal to 70% of the contribution amount, but not to exceed $50,000 per taxpayer in any taxable year. Effective immediately.


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A BILL FOR

 

HB4960LRB103 38894 HLH 69031 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. Domestic violence shelter tax credit.
8    (a) For tax years beginning on or after January 1, 2025,
9each taxpayer who makes a contribution during the taxable year
10to a domestic violence shelter or service program administered
11by the Department of Human Services under the Domestic
12Violence Shelters Act is entitled to a credit against the tax
13imposed by subsections (a) and (b) of Section 201 in an amount
14equal to 70% of the contribution amount, but not to exceed
15$50,000 per taxpayer in any taxable year.
16    (b) In no event shall a credit under this Section reduce
17the taxpayer's liability to less than zero. If the amount of
18the credit exceeds the tax liability for the year, the excess
19may be carried forward and applied to the tax liability of the
20next succeeding taxable year. Tax credits issued pursuant to
21this Section shall not be assigned, transferred, or sold.
22    (c) Except for any excess credit that is carried over
23pursuant to subsection (b), a taxpayer may not claim a tax

 

 

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1credit under this Section unless the total amount of the
2taxpayer's contributions to domestic violence shelters,
3service programs, or both during the taxable year a has a value
4of at least $100.
5    (d) As used in this Section, "contribution" means a
6donation of cash, stock, bonds or other marketable securities,
7or real property.
 
8    Section 99. Effective date. This Act takes effect upon
9becoming law.