HB4705 94TH GENERAL ASSEMBLY

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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4705

Introduced 1/12/2006, by Rep. Linda Chapa LaVia

SYNOPSIS AS INTRODUCED:

35 ILCS 5/216 new

Amends the Illinois Income Tax Act. Creates a $200 credit for individual taxpayers who have custody or control of a student with good school attendance during the preceding school year. Provides that the credit may be claimed only once with respect to any one student any taxable year. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

FISCAL NOTE ACT MAY APPLY

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 216 as follows:

(35 ILCS 5/216 new)

Sec. 216. Credit for good school attendance.

(a) For taxable years ending on or after December 31, 2006 and ending on or before December 30, 2011, each individual taxpayer who has custody or control of a student with good school attendance during the preceding school year is entitled to a credit against the tax imposed under subsections (a) and (b) of Section 201 in the amount of $200 per student with good school attendance.

(b) The credit under this Section may be claimed only once with respect to any one student any taxable year.

(c) The credit may not be carried forward or back. In no event shall a credit under this Section reduce the taxpayer's liability to less than zero.

(d) For the purposes of this Section:

"Good school attendance" means that the student was absent without valid cause for 5 or fewer days during the preceding school year.

"Student" means a person subject to compulsory school attendance under Article 26 of the School Code.

"Valid cause" has the definition set forth under Section 26-2a of the School Code.

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