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90_HB1476
35 ILCS 5/211 new
Amends the Illinois Income Tax Act to create an income
tax credit for individuals in an amount equal to the sum
expended by the taxpayer for job training if the taxpayer
lost his or her job and was unable to obtain other full-time
employment. Sunsets the credit after 10 years. Effective
immediately.
LRB9004479KDsb
LRB9004479KDsb
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Displaced worker job training tax credit.
9 Beginning with tax years ending on or after December 31, 1997
10 and ending with tax years ending on or before December 31,
11 2006, every individual is entitled to a credit against the
12 tax imposed by this Act in an amount equal to the sum
13 expended during the taxable year by the taxpayer for job
14 training or retraining if the taxpayer (i) has lost or
15 resigned from his or her job due to the closing or moving of
16 the facility at which he or she was employed or due to the
17 abolishing of the position or shift at the facility in which
18 the taxpayer was employed and (ii) did not obtain another
19 full-time job during the taxable year at which the taxpayer
20 was employed for more than 20 hours a week.
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.