103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5248

 

Introduced 2/9/2024, by Rep. Edgar Gonzalez, Jr.

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/241 new

    Amends the Illinois Income Tax Act. Provides that a qualified business is entitled to a credit in an amount equal to 75% of the amount expended by the qualified business during the taxable year on menstrual hygiene products that are provided for use by the public at no cost at a business location of the qualified business. Effective immediately.


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A BILL FOR

 

HB5248LRB103 39003 HLH 69140 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. Menstrual hygiene product tax credit.
8    (a) For tax years beginning on or after January 1, 2025, a
9qualified business is entitled to a credit against the tax
10imposed by subsections (a) and (b) of Section 201 in an amount
11equal to 75% of the amount expended by the qualified business
12during the taxable year on menstrual hygiene products that are
13provided for use by the public at no cost at a business
14location of the qualified business. In no event shall a
15taxpayer be allowed to claim a tax credit under this Section in
16excess of $50,000 per taxable year.
17    (b) In no event shall a credit under this Section reduce
18the taxpayer's liability to less than zero. If the amount of
19the credit exceeds the tax liability for the year, the excess
20may be carried forward and applied to the tax liability of the
21next immediately succeeding taxable year. If there are credits
22for more than one year that are available to offset a
23liability, the earlier credit shall be applied first. Tax

 

 

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1credits issued under this Section shall not be assigned,
2transferred, or sold.
3    (c) Except for any excess credit which is carried over
4pursuant to subsection (b) of this Section, a taxpayer shall
5not be allowed to claim a tax credit unless the total amount of
6the taxpayer's expenditure on qualifying menstrual products is
7at least $100 during the taxable year.
8    (d) As used in this Section:
9    "Full-time employee" means an individual who is employed
10for consideration for at least 35 hours each week or who
11renders any other standard of service generally accepted by
12industry custom or practice as full-time employment.
13    "Menstrual hygiene product" means tampons and sanitary
14napkins for use in connection with the menstrual cycle.
15    "Qualified business" means a business, including, but not
16limited to, a business that is an S corporation or a limited
17liability company, that employs fewer than 100 full-time
18employees.
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.