Bill Text: IL HB5238 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for each employer taxpayer in an amount equal to $5,000 for each military spouse hired by the taxpayer during the taxable year. Effective immediately.

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Introduced - Dead) 2022-03-28 - Added Co-Sponsor Rep. Dagmara Avelar [HB5238 Detail]

Download: Illinois-2021-HB5238-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB5238 Introduced , by Rep. Daniel Swanson SYNOPSIS AS INTRODUCED:
35 ILCS 5/217.2 new
Amends the Illinois Income Tax Act. Creates an income tax credit for each employer taxpayer in an amount equal to $5,000 for each military spouse hired by the taxpayer during the taxable year. Effective immediately.
LRB102 24237 HLH 33468 b
A BILL FOR
HB5238 LRB102 24237 HLH 33468 b
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 217.2 as follows:
(35 ILCS 5/217.2 new)
Sec. 217.2. Credit for wages paid to a military spouse.
(a) For taxable years ending on or after December 31,
2022, each taxpayer that is an employer is entitled to a credit
against the tax imposed by subsections (a) and (b) of Section
201 of this Act in an amount equal to $5,000 for each military
spouse hired by the taxpayer during the taxable year.
(b) For partners, shareholders of Subchapter S
corporations, and owners of limited liability companies, if
the liability company is treated as a partnership for the
purposes of federal and State income taxation, there shall be
allowed a credit under this Section to be determined in
accordance with the determination of income and distributive
share of income under Sections 702 and 704 and Subchapter S of
the Internal Revenue Code.
(c) 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

HB5238 - 2 - LRB102 24237 HLH 33468 b
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 a liability, the earlier credit
shall be applied first.
(d) As used in this Section:
"Military spouse" means the spouse of an active duty
member of the Armed Forces of the United States, a member of
the Illinois National Guard, or a member of any reserve
component of the Armed Forces of the United States.
(e) This Section is exempt from the provisions of Section
250.
Section 99. Effective date. This Act takes effect upon
becoming law.