Sen. Omar Aquino

Filed: 3/21/2023

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 804

2    AMENDMENT NO. ______. Amend Senate Bill 804 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Income Tax Act is amended by
5adding Section 234 as follows:
 
6    (35 ILCS 5/234 new)
7    Sec. 234. Credit for qualified teachers.
8    (a) For taxable years ending on or after December 31,
92023, each qualified teacher is entitled to a credit against
10the taxes imposed by subsections (a) and (b) of Section 201 in
11an aggregate amount equal to 50% of the total unreimbursed
12tuition costs incurred by that teacher to attend a public
13university in the State. Each qualified teacher may take no
14more than 20% of the aggregate credit available to that
15teacher under this Section in any taxable year. Qualified
16teachers must be actively employed as public school teachers

 

 

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1in the State during each taxable year in which they claim a
2credit under this Section. Notwithstanding the provisions of
3this subsection, the credit used by any single qualified
4teacher in any taxable year shall not exceed $10,000.
5    (b) In no event shall a credit under this Section reduce a
6taxpayer's liability to less than zero. If the amount of
7credit exceeds the tax liability for the year, the excess may
8be carried forward and applied to the tax liability for the
9taxable years following the excess credit year. The tax credit
10shall be applied to the earliest year for which there is a tax
11liability. If there are credits for more than one year that are
12available to offset liability, the earlier credit shall be
13applied first.
14    (c) As used in this Section, "qualified teacher" means an
15individual who (i) graduates from a public university in the
16State on or after the effective date of this amendatory Act of
17the 103rd General Assembly, (ii) is first employed as a public
18school teacher after December 31, 2023, and (iii) has been
19employed as a public school teacher in the State for at least 5
20consecutive years prior to the first day of the taxable year or
21has achieved and maintained contractual continued service
22status pursuant to the School Code as of the first day of the
23taxable year.
24    (d) The Department shall adopt rules to implement this
25Section.
26    (e) This Section is exempt from the provisions of Section

 

 

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1250.
 
2    Section 99. Effective date. This Act takes effect upon
3becoming law.".