SB2053sam001 102ND GENERAL ASSEMBLY

Sen. Omar Aquino

Filed: 3/19/2021

10200SB2053sam001 LRB102 11522 HLH 23542 a

AMENDMENT TO SENATE BILL 2053

AMENDMENT NO. ______. Amend Senate Bill 2053 by replacing everything after the enacting clause with the following:

"Section 5. The Illinois Income Tax Act is amended by adding Section 232 as follows:

(35 ILCS 5/232 new)

Sec. 232. Credit for qualified teachers.

(a) For taxable years ending on or after December 31, 2021, each qualified teacher is entitled to a credit against the taxes imposed by subsections (a) and (b) of Section 201 in an aggregate amount equal to 50% of the unreimbursed tuition costs incurred by that teacher at a public university in the State. Each qualified teacher may take no more than 20% of his or her aggregate credit amount in any taxable year. Notwithstanding the provisions of this subsection (a), the credit used by any particular taxpayer in any taxable year shall not exceed $10,000.

(b) In no event shall a credit under this Section reduce a taxpayer's liability to less than zero. If the amount of credit exceeds the tax liability for the year, the excess may be carried forward and applied to the tax liability for the 5 taxable years following the excess credit year. The tax credit shall be applied to the earliest year for which there is a tax liability. If there are credits for more than one year that are available to offset liability, the earlier credit shall be applied first.

(c) As used in this Section, "qualified teacher" means an individual who (i) graduated from a public university in the State, (ii) is first employed as a public school teacher after December 31, 2020, and (iii) has been employed as a public school teacher in the State for at least 5 consecutive years.

(d) The Department shall adopt rules to implement this Section.

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

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