Illinois General Assembly - Full Text of HB3192
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Full Text of HB3192  103rd General Assembly




State of Illinois
2023 and 2024


Introduced 2/17/2023, by Rep. Tom Weber


35 ILCS 5/234 new

    Amends the Illinois Income Tax Act. Provides that a taxpayer is entitled to an income tax credit for each person who is (i) 62 years of age or older during the taxable year and (ii) employed by the taxpayer at a location in this State for not less than 185 days during the taxable year. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

LRB103 30357 HLH 56787 b





HB3192LRB103 30357 HLH 56787 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 234 as follows:
6    (35 ILCS 5/234 new)
7    Sec. 234. Credit for wages paid to persons 62 years of age
8or older.
9    (a) For each taxable year beginning on or after January 1,
102024, each taxpayer is entitled to a credit against the tax
11imposed by subsections (a) and (b) of Section 201 of this Act
12in the amount of $2,500 for each person who is (i) 62 years of
13age or older during the taxable year and (ii) employed by the
14taxpayer at a location in this State for not less than 185 days
15during the taxable year. For partners, shareholders of
16Subchapter S corporations, and owners of limited liability
17companies, if the liability company is treated as a
18partnership for purposes of federal and State income taxation,
19there shall be allowed a credit under this Section to be
20determined in accordance with the determination of income and
21distributive share of income under Sections 702 and 704 and
22Subchapter S of the Internal Revenue Code.
23    (b) In no event shall a credit under this Section reduce



HB3192- 2 -LRB103 30357 HLH 56787 b

1the taxpayer's liability to less than zero. If the amount of
2the credit exceeds the tax liability for the year, the excess
3may be carried forward and applied to the tax liability of the
45 taxable years following the excess credit year. The tax
5credit shall be applied to the earliest year for which there is
6a tax liability. If there are credits for more than one year
7that are available to offset a liability, the earlier credit
8shall be applied first.
9    (c) This Section is exempt from the provisions of Section
11    Section 99. Effective date. This Act takes effect upon
12becoming law.