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92_HB2272 LRB9204847SMdv 1 AN ACT concerning taxation. 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 adding Section 213 as follows: 6 (35 ILCS 5/213 new) 7 Sec. 213. Teacher credit. 8 (a) As used in this Section, "teacher" means a person 9 holding a teaching certificate issued under Article 21 of the 10 School Code and who is employed by a public or private 11 elementary or secondary school in this State, including those 12 providing vocational and technical instruction. 13 (b) For tax years ending on or after December 31, 2001, 14 each taxpayer who is a teacher is allowed a credit against 15 the tax imposed under subsections (a) and (b) of Section 201 16 in the following amounts: $500 if the teacher has completed 17 at least 2 but less than 5 years of teaching by the end of 18 the taxable year, $750 if the teacher has completed at least 19 5 but less than 10 years of teaching by the end of the 20 taxable year, $1,000 if the teacher has completed at least 10 21 but less than 15 years of teaching by the end of the taxable 22 year, and $1,500 if the teacher has completed at least 15 23 years of teaching by the end of the taxable year. The 24 credit, however, may not exceed 50% of the amount of tax 25 owing on the taxable amount of the salary of the teacher less 26 the amount of the exemption claimed by the teacher and may 27 not reduce the taxpayer's liability to less than zero. 28 (c) This Section is exempt from the provisions of 29 Section 250.
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