Full Text of SB0130 97th General Assembly
SB0130 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 SB0130 Introduced 1/27/2011, by Sen. Martin A. Sandoval SYNOPSIS AS INTRODUCED: |
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35 ILCS 5/204 | from Ch. 120, par. 2-204 |
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Amends the Illinois Income Tax Act. For taxable years beginning on or after January 1, 2012, increases the amount of the standard exemption to $4,000. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| 1 | | AN ACT concerning revenue.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Income Tax Act is amended by | 5 | | changing Section 204 as follows:
| 6 | | (35 ILCS 5/204) (from Ch. 120, par. 2-204)
| 7 | | Sec. 204. Standard Exemption.
| 8 | | (a) Allowance of exemption. In computing net income under | 9 | | this Act, there
shall be allowed as an exemption the sum of the | 10 | | amounts determined under
subsections (b), (c) and (d), | 11 | | multiplied by a fraction the numerator of which
is the amount | 12 | | of the taxpayer's base income allocable to this State for the
| 13 | | taxable year and the denominator of which is the taxpayer's | 14 | | total base income
for the taxable year.
| 15 | | (b) Basic amount. For the purpose of subsection (a) of this | 16 | | Section,
except as provided by subsection (a) of Section 205 | 17 | | and in this
subsection, each taxpayer shall be allowed a basic | 18 | | amount of $1000, except
that for corporations the basic amount | 19 | | shall be zero for tax years ending on
or
after December 31, | 20 | | 2003, and for individuals the basic amount shall be:
| 21 | | (1) for taxable years ending on or after December 31, | 22 | | 1998 and prior to
December 31, 1999, $1,300;
| 23 | | (2) for taxable years ending on or after December 31, |
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| 1 | | 1999 and prior to
December 31, 2000, $1,650;
| 2 | | (3) for taxable years ending on or after December 31, | 3 | | 2000 and prior to December 31, 2012 , $2,000 ; .
| 4 | | (4) for taxable years ending on or after December 31, | 5 | | 2012, $4,000. | 6 | | For taxable years ending on or after December 31, 1992, a | 7 | | taxpayer whose
Illinois base income exceeds the basic amount | 8 | | and who is claimed as a dependent
on another person's tax | 9 | | return under the Internal Revenue Code of 1986 shall
not be | 10 | | allowed any basic amount under this subsection.
| 11 | | (c) Additional amount for individuals. In the case of an | 12 | | individual
taxpayer, there shall be allowed for the purpose of | 13 | | subsection (a), in
addition to the basic amount provided by | 14 | | subsection (b), an additional
exemption equal to the basic | 15 | | amount for each
exemption in excess of one
allowable to such | 16 | | individual taxpayer for the taxable year under Section
151 of | 17 | | the Internal Revenue Code.
| 18 | | (d) Additional exemptions for an individual taxpayer and | 19 | | his or her
spouse. In the case of an individual taxpayer and | 20 | | his or her spouse, he or
she shall each be allowed additional | 21 | | exemptions as follows:
| 22 | | (1) Additional exemption for taxpayer or spouse 65 | 23 | | years of age or older.
| 24 | | (A) For taxpayer. An additional exemption of | 25 | | $1,000 for the taxpayer if
he or she has attained the | 26 | | age of 65 before the end of the taxable year.
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| 1 | | (B) For spouse when a joint return is not filed. An | 2 | | additional
exemption of $1,000 for the spouse of the | 3 | | taxpayer if a joint return is not
made by the taxpayer | 4 | | and his spouse, and if the spouse has attained the age
| 5 | | of 65 before the end of such taxable year, and, for the | 6 | | calendar year in
which the taxable year of the taxpayer | 7 | | begins, has no gross income and is
not the dependent of | 8 | | another taxpayer.
| 9 | | (2) Additional exemption for blindness of taxpayer or | 10 | | spouse.
| 11 | | (A) For taxpayer. An additional exemption of | 12 | | $1,000 for the taxpayer if
he or she is blind at the | 13 | | end of the taxable year.
| 14 | | (B) For spouse when a joint return is not filed. An | 15 | | additional
exemption of $1,000 for the spouse of the | 16 | | taxpayer if a separate return is made
by the taxpayer, | 17 | | and if the spouse is blind and, for the calendar year | 18 | | in which
the taxable year of the taxpayer begins, has | 19 | | no gross income and is not the
dependent of another | 20 | | taxpayer. For purposes of this paragraph, the
| 21 | | determination of whether the spouse is blind shall be | 22 | | made as of the end of the
taxable year of the taxpayer; | 23 | | except that if the spouse dies during such
taxable year | 24 | | such determination shall be made as of the time of such | 25 | | death.
| 26 | | (C) Blindness defined. For purposes of this |
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| 1 | | subsection, an individual
is blind only if his or her | 2 | | central visual acuity does not exceed 20/200 in
the | 3 | | better eye with correcting lenses, or if his or her | 4 | | visual acuity is
greater than 20/200 but is accompanied | 5 | | by a limitation in the fields of
vision such that the | 6 | | widest diameter of the visual fields subtends an angle
| 7 | | no greater than 20 degrees.
| 8 | | (e) Cross reference. See Article 3 for the manner of | 9 | | determining
base income allocable to this State.
| 10 | | (f) Application of Section 250. Section 250 does not apply | 11 | | to the
amendments to this Section made by Public Act 90-613.
| 12 | | (Source: P.A. 93-29, eff. 6-20-03.)
| 13 | | Section 99. Effective date. This Act takes effect upon | 14 | | becoming law.
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