SB0804sam001 103RD GENERAL ASSEMBLY

Sen. Omar Aquino

Filed: 3/21/2023

10300SB0804sam001 LRB103 03259 HLH 59141 a

AMENDMENT TO SENATE BILL 804

AMENDMENT NO. ______. Amend Senate Bill 804 by replacing everything after the enacting clause with the following:

"Section 5. The Illinois Income Tax Act is amended by adding Section 234 as follows:

(35 ILCS 5/234 new)

Sec. 234. Credit for qualified teachers.

(a) For taxable years ending on or after December 31, 2023, 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 total unreimbursed tuition costs incurred by that teacher to attend a public university in the State. Each qualified teacher may take no more than 20% of the aggregate credit available to that teacher under this Section in any taxable year. Qualified teachers must be actively employed as public school teachers in the State during each taxable year in which they claim a credit under this Section. Notwithstanding the provisions of this subsection, the credit used by any single qualified teacher 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 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) graduates from a public university in the State on or after the effective date of this amendatory Act of the 103rd General Assembly, (ii) is first employed as a public school teacher after December 31, 2023, and (iii) has been employed as a public school teacher in the State for at least 5 consecutive years prior to the first day of the taxable year or has achieved and maintained contractual continued service status pursuant to the School Code as of the first day of the taxable year.

(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.".