IL SB2833 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates an income tax credit for individuals who (i) serve as a volunteer for 100 hours during the taxable year, (ii) do not receive any compensation for their services as a volunteer for the taxable year, and (iii) do not serve on a full-time or part-time career basis for the entity for which they volunteer. Provides that the Department of Revenue may award not more than $5,000,000 in credits under those provisions in any calendar year. Effective immediately.
Title
INC TX-VOLUNTEERS
Sponsors
Sen. Paul Faraci [D] |
History
Date | Chamber | Action |
---|---|---|
2024-03-15 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2024-01-31 | Senate | Assigned to Revenue |
2024-01-19 | Senate | Referred to Assignments |
2024-01-19 | Senate | First Reading |
2024-01-19 | Senate | Filed with Secretary by Sen. Paul Faraci |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 5 | 241 | New Code | See Bill Text |
5 | 100 | 5-45.55 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2833&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
Text | https://www.ilga.gov/legislation/103/SB/10300SB2833.htm |