Replaces everything after the enacting clause. Amends the Illinois Income Tax Act. Creates a credit for individual taxpayers in an amount equal to the total amount of expenditures made by the taxpayer during the taxable year for the purpose of modifying the primary residence of a disabled veteran to accommodate that veteran's disability. Provides that the amount of the credit may not exceed $1,000 in any taxable year. Provides that the credit may not reduce the taxpayer's liability to less than zero. Provides that, if the amount of the credit exceeds the taxpayer's liability for the taxable year, the excess credit may not be carried forward or back and shall not be refunded to the taxpayer. Exempts the credit from the Act's automatic sunset provisions. Effective immediately.
Senate Floor Amendment No. 2 Provides that a credit for expenditures made for the purpose of modifying the primary residence of a disabled veteran may be claimed by the taxpayer in only one taxable year. Provides that eligibility for the credit must be established (instead of reestablished on an annual basis) by certification from the Illinois Department of Veterans' Affairs.