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| | 10300HB0611ham001 | - 2 - | LRB103 04196 HLH 72129 a |
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1 | | (b) As used in this Section: |
2 | | "Eligible union dues" means union dues paid by the |
3 | | taxpayer during the taxable year that are not reimbursed or |
4 | | compensated in any form. |
5 | | "Union dues" means regular fees and assessments paid by a |
6 | | member of a labor union to a labor union. |
7 | | (c) For taxable years beginning on or after January 1, |
8 | | 2025, each individual taxpayer who pays eligible union dues |
9 | | during the taxable year shall be entitled to a credit against |
10 | | the tax imposed under subsections (a) and (b) of Section 201. |
11 | | The credit shall be equal to the amount of eligible union dues |
12 | | paid by the taxpayer during the taxable year, not to exceed |
13 | | $1,200 per taxpayer in any taxable year. |
14 | | (d) In no event shall a credit under this Section reduce |
15 | | the taxpayer's liability to less than zero. Excess credits |
16 | | awarded under this Section may not be carried forward or back. |
17 | | (e) The Department shall adopt rules for the |
18 | | implementation of this Section, including rules for verifying |
19 | | eligibility for credits under this Section. |
20 | | (f) The Department shall monitor the fiscal impact of this |
21 | | tax credit and may propose adjustments to the General Assembly |
22 | | to ensure that the credit under this Section does not |
23 | | adversely affect the State budget. |
24 | | (g) This Section is exempt from the provisions of Section |
25 | | 250. |