SB3698 96TH GENERAL ASSEMBLY

LRB096 20384 HLH 36026 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB3698

Introduced 2/11/2010, by Sen. M. Maggie Crotty

SYNOPSIS AS INTRODUCED:

35 ILCS 5/219 new

Amends the Illinois Income Tax Act. Provides that, beginning in taxable year 2010, an income tax credit is allowed for a taxpayer who is a nursing professor at a public institution of higher education during a taxable year. Specifies the amount of the tax credit. Defines "nursing professor" and "public institution of higher education". Provides that any excess credit shall be refunded to the taxpayer. 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 219 as follows:

(35 ILCS 5/219 new)

Sec. 219. Nursing instructor tax credit.

(a) As used in this Section:

"Nursing professor" means an individual who is licensed to practice as a registered nurse under the Nurse Practice Act and is teaching at a public institution of higher education in a program that leads to a diploma or degree in nursing.

"Public institution of higher education" means an Illinois public university or Illinois community college.

(b) Beginning in taxable year 2010, a credit is allowed against the tax imposed by subsections (a) and (b) of Section 201 of this Act for a taxpayer who is a nursing professor at a public institution of higher education during a taxable year. The amount of the credit shall be as follows:

(1) $3,500 each taxable year for 4 consecutive taxable years;

(2) $1,750 each taxable year for 2 consecutive taxable years after the credit has been taken in 4 consecutive taxable years under paragraph (1) of this subsection (b).

A taxpayer may not claim the credit allowed under this Section in taxable year 2020 or thereafter.

(c) If the amount of the credit under this Section exceeds the amount of tax otherwise due under this Act, the taxpayer is entitled to a refund of the excess.

(d) The Director may require a taxpayer to furnish information necessary to support a claim for a credit under this Section, and no credit shall be allowed under this Section unless that information is provided.

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