Bill Text: IL HB5420 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates an income tax checkoff for contributions to a qualified veterans home fund. Provides that "qualified veterans home fund" means any of the following: (i) the LaSalle Veterans Home Fund; (ii) the Anna Veterans Home Fund; (iii) the Manteno Veterans Home Fund; or (iv) the Quincy Veterans Home Fund. Effective immediately.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced - Dead) 2020-02-18 - Referred to Rules Committee [HB5420 Detail]

Download: Illinois-2019-HB5420-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB5420 Introduced , by Rep. Randy E. Frese - Daniel Swanson - Grant Wehrli - Avery Bourne - Amy Grant, et al. SYNOPSIS AS INTRODUCED:
35 ILCS 5/507JJJ new
Amends the Illinois Income Tax Act. Creates an income tax checkoff for contributions to a qualified veterans home fund. Provides that "qualified veterans home fund" means any of the following: (i) the LaSalle Veterans Home Fund; (ii) the Anna Veterans Home Fund; (iii) the Manteno Veterans Home Fund; or (iv) the Quincy Veterans Home Fund. Effective immediately.
LRB101 19547 HLH 69021 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
HB5420 LRB101 19547 HLH 69021 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 507JJJ as follows:
(35 ILCS 5/507JJJ new)
Sec. 507JJJ. Veterans homes checkoff. For taxable years
ending on or after December 31, 2020, the Department must print
on its standard individual income tax form a provision (i)
indicating that if the taxpayer wishes to contribute to a
qualified veterans home fund, as authorized by this amendatory
Act of the 101st General Assembly, he or she may do so by
stating the amount of the contribution (not less than $1) on
the return and (ii) stating that the contribution will reduce
the taxpayer's refund or increase the amount of payment to
accompany the return. The provision shall list each qualified
veterans home fund and shall allow the taxpayer to designate
one or more of those funds for his or her contribution. Failure
to remit any amount of increased payment shall reduce the
contribution accordingly. This Section does not apply to any
amended return.
As used in this Section "qualified veterans home fund"
means any of the following:

HB5420 - 2 - LRB101 19547 HLH 69021 b
(1) the LaSalle Veterans Home Fund;
(2) the Anna Veterans Home Fund;
(3) the Manteno Veterans Home Fund; or
(4) the Quincy Veterans Home Fund.
Section 99. Effective date. This Act takes effect upon
becoming law.