Bill Text: IL HB4250 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit of $250 for taxpayers who make 4 or more qualified donations of human whole blood or human blood components during the taxable year. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB4250 Detail]

Download: Illinois-2023-HB4250-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4250 Introduced , by Rep. Maurice A. West, II SYNOPSIS AS INTRODUCED:
35 ILCS 5/241 new
Amends the Illinois Income Tax Act. Creates an income tax credit of $250 for taxpayers who make 4 or more qualified donations of human whole blood or human blood components during the taxable year. Effective immediately.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by
adding Section 241 as follows:
(35 ILCS 5/241 new)
Sec. 241. Credit for blood bank donations.
(a) For taxable years beginning on or after January 1,
2025, each taxpayer is entitled to a credit against the taxes
imposed by subsections (a) and (b) of Section 201 in the amount
of $250, provided that (i) the taxpayer made at least 4
donations of human whole blood or human blood components
during the taxable year in which the credit is claimed and (ii)
each donation was made to a blood bank, as defined in the
Illinois Clinical Laboratory and Blood Bank Act, that
qualified as an exempt organization under Section 501(c)(3) of
the Internal Revenue Code during the taxable year in which the
donation was made.
(b) In no event shall a credit under this Section reduce
the taxpayer's liability to less than zero. If the amount of
the credit exceeds the tax liability for the year, the excess
may be carried forward and applied to the tax liability of the
5 taxable years following the excess credit year. The tax

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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 a liability, the earlier credit
shall be applied first.
(c) This Section is exempt from the provisions of Section
250.
(d) As used in this Section:
"Human blood components" means any one or more of the
following derived from human whole blood: red blood cells,
white blood cells, platelets, or plasma.
(e) The Department shall adopt any rules necessary to
implement and administer this Section.