Bill Text: IL HB1350 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee [HB1350 Detail]
Download: Illinois-2023-HB1350-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Income Tax Act is amended by | |||||||||||||||||||
5 | adding Section 234 as follows:
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6 | (35 ILCS 5/234 new) | |||||||||||||||||||
7 | Sec. 234. Caregiver credit. | |||||||||||||||||||
8 | (a) For taxable years ending on or after December 31, | |||||||||||||||||||
9 | 2024, each taxpayer who is an eligible caregiver of a veteran | |||||||||||||||||||
10 | with a disability is entitled to a credit against the tax | |||||||||||||||||||
11 | imposed by subsections (a) and (b) of Section 201 in an amount | |||||||||||||||||||
12 | equal to 5% of the costs incurred in caring for the veteran, | |||||||||||||||||||
13 | not to exceed $1,000 in credits in any taxable year. | |||||||||||||||||||
14 | (b) In no event shall a credit under this Section reduce a | |||||||||||||||||||
15 | taxpayer's liability to less than zero. If the amount of | |||||||||||||||||||
16 | credit exceeds the tax liability for the year, the excess may | |||||||||||||||||||
17 | be carried forward and applied to the tax liability for the 5 | |||||||||||||||||||
18 | taxable years following the excess credit year. The tax credit | |||||||||||||||||||
19 | shall be applied to the earliest year for which there is a tax | |||||||||||||||||||
20 | liability. If there are credits for more than one year that are | |||||||||||||||||||
21 | available to offset liability, the earlier credit shall be | |||||||||||||||||||
22 | applied first. | |||||||||||||||||||
23 | (c) As used in this Section: |
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1 | "Costs incurred" means expenditures for the following: | ||||||
2 | respite care; counseling or support groups; training related | ||||||
3 | to caring for a veteran with disability; travel related to | ||||||
4 | caring for the veteran; technology that assists in providing | ||||||
5 | care; and medical and hygiene items used by the veteran. | ||||||
6 | "Eligible caregiver" means a family member or paid worker | ||||||
7 | who provides care for a qualified veteran with a disability | ||||||
8 | and assists with performing the activities of daily life. | ||||||
9 | "Veteran" means an Illinois resident who has served as a | ||||||
10 | member of the United States Armed Forces on active duty or | ||||||
11 | State active duty, a member of the Illinois National Guard, or | ||||||
12 | a member of the United States Reserve Forces who has received | ||||||
13 | an honorable discharge. | ||||||
14 | "Veteran with a disability" means a veteran with a | ||||||
15 | service-connected disability, as certified by the United | ||||||
16 | States Department of Veterans Affairs. | ||||||
17 | (d) This Section is exempt from the provisions of Section | ||||||
18 | 250.
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19 | Section 99. Effective date. This Act takes effect upon | ||||||
20 | becoming law.
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