Bill Text: IL SB3027 | 2021-2022 | 102nd General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Reinserts the provisions of the introduced bill with changes. Provides that, to qualify for the credit, the volunteer emergency worker may not receive compensation for his or her services of more than $10,000 for the taxable year. Removes provisions concerning volunteer fire protection associations. Makes changes to the definition of "volunteer emergency worker". Effective immediately.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2022-04-01 - Added Alternate Co-Sponsor Rep. Maurice A. West, II [SB3027 Detail]
Download: Illinois-2021-SB3027-Introduced.html
Bill Title: Reinserts the provisions of the introduced bill with changes. Provides that, to qualify for the credit, the volunteer emergency worker may not receive compensation for his or her services of more than $10,000 for the taxable year. Removes provisions concerning volunteer fire protection associations. Makes changes to the definition of "volunteer emergency worker". Effective immediately.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2022-04-01 - Added Alternate Co-Sponsor Rep. Maurice A. West, II [SB3027 Detail]
Download: Illinois-2021-SB3027-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 232 as follows:
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6 | (35 ILCS 5/232 new) | |||||||||||||||||||
7 | Sec. 232. Volunteer firefighters and volunteer EMS | |||||||||||||||||||
8 | providers. | |||||||||||||||||||
9 | (a) For taxable years beginning on or after January 1, | |||||||||||||||||||
10 | 2023, each individual who serves as a volunteer emergency | |||||||||||||||||||
11 | worker for, or on behalf of, a volunteer fire protection | |||||||||||||||||||
12 | association for at least 9 months during the taxable year is | |||||||||||||||||||
13 | entitled to a credit against the taxes imposed by subsections | |||||||||||||||||||
14 | (a) and (b) of Section 201 in an amount equal to $500. | |||||||||||||||||||
15 | (b) In no event shall a credit under this Section reduce a | |||||||||||||||||||
16 | taxpayer's liability to less than zero. If the amount of the | |||||||||||||||||||
17 | credit exceeds the tax liability for the year, the excess may | |||||||||||||||||||
18 | be carried forward and applied to the tax liability for the 5
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19 | taxable years following the excess credit year. The tax credit | |||||||||||||||||||
20 | shall be applied to the earliest year for which there is a tax | |||||||||||||||||||
21 | liability. If there are credits for more than one year that are | |||||||||||||||||||
22 | available to offset liability, the earlier credit shall be | |||||||||||||||||||
23 | applied first. |
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1 | (c) As used in this Section: | ||||||
2 | "Volunteer emergency worker" has the meaning given to that | ||||||
3 | term in Section 3 of the Volunteer Emergency Worker Job | ||||||
4 | Protection Act. | ||||||
5 | "Volunteer fire protection association" has the meaning | ||||||
6 | given to that term in Section 2 of the Volunteer Fire | ||||||
7 | Protection Association Act. | ||||||
8 | (d) This Section is exempt from the provisions of Section
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9 | 250.
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10 | Section 99. Effective date. This Act takes effect upon | ||||||
11 | becoming law.
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