SB1496 103RD GENERAL ASSEMBLY

LRB103 27087 HLH 53455 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1496

Introduced 2/7/2023, by Sen. Javier L. Cervantes

SYNOPSIS AS INTRODUCED:

35 ILCS 5/240 new

Amends the Illinois Income Tax Act. Provides that an individual taxpayer who (i) provides behind-the-wheel commercial driving instruction for at least 160 hours during the taxable year to an individual who holds a commercial learner's permit, (ii) accepts no compensation for the instruction, and (iii) holds a valid commercial driver's license in this State during the period of the instruction and has at least 6 months of commercial driving experience as of the first day that the taxpayer provides instruction is entitled to an income tax credit in an amount equal to $11,500 for each person who receives at least 160 hours of instruction from the taxpayer during the taxable year. Provides that the credit may not be carried forward or back, may not be refunded to the taxpayer, and may not reduce the taxpayer's liability to less than zero. Effective immediately.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Income Tax Act is amended by adding Section 240 as follows:

(35 ILCS 5/240 new)

Sec. 240. Commercial driving apprentice credit.

(a) For taxable years beginning on or after January 1, 2024, each individual taxpayer who meets all of the following criteria is entitled to a credit against the taxes imposed by subsections (a) and (b) of Section 201:

(1) the taxpayer provides behind-the-wheel commercial driving instruction for at least 160 hours during the taxable year to an individual who holds a commercial learner's permit;

(2) the taxpayer accepts no compensation for the instruction; and

(3) the taxpayer holds a valid commercial driver's license in this State during the period of the instruction and has at least 6 months of commercial driving experience as of the first day that the taxpayer provides instruction.

(b) The credit shall be in the amount of $11,500, multiplied by the number of individuals described in paragraph (1) of subsection (a) who receive at least 160 hours of commercial driving instruction from the taxpayer during the taxable year.

(c) The credit may not be carried forward or back, may not be refunded to the taxpayer, and may not reduce the taxpayer's liability to less than zero.

(d) The Department may adopt any rules necessary to implement and administer the tax credit created by this Section.

(e) This Section is exempt from the provisions of Section 250.

Section 99. Effective date. This Act takes effect upon becoming law.