Bill Text: IL HB5122 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $500 for a taxpayer who serves as a full-time police officer, firefighter, or rescue worker during the taxable year. Effective immediately.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB5122 Detail]

Download: Illinois-2023-HB5122-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5122 Introduced 2/8/2024, by Rep. Dan Ugaste - Amy L. Grant and Dave Severin SYNOPSIS AS INTRODUCED:
35 ILCS 5/241 new
Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $500 for a taxpayer who serves as a full-time police officer, firefighter, or rescue worker 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. First responder tax credit.
(a) For taxable years beginning on or after January 1,
2024 and beginning prior to January 1, 2029, each individual
who serves as a full-time police officer, firefighter, or
rescue worker during the taxable year is entitled to a credit
against the taxes imposed by subsections (a) and (b) of
Section 201 in the amount of $500.
(b) A credit under this Section may not reduce a
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 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 the liability, the earlier credit shall be
applied first.
(c) The Department may adopt rules for the implementation

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of the credit under this Section.
(d) As used in this Section:
"Firefighter" has the same meaning as "fireman" in
subsection (b) of Section 2 of the Line of Duty Compensation
Act.
"Police officer" has the same meaning as "law enforcement
officer" in subsection (a) of Section 2 of the Line of Duty
Compensation Act.
"Rescue worker" means a person who is licensed under the
Emergency Medical Services (EMS) Systems Act as an Emergency
Medical Responder (EMR) (First Responder), Emergency Medical
Technician (EMT), Emergency Medical Technician-Intermediate
(EMT-I), Advanced Emergency Medical Responder (A-EMT), or
Paramedic (EMT-P).