Bill Text: IL HB2386 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Provides that each taxpayer business is entitled to an income tax credit in an amount equal to 100% of the costs incurred by the taxpayer in paying for screenings, treatments, and recommendations associated with individual employees' physical, mental, and emotional wellness. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB2386 Detail]
Download: Illinois-2021-HB2386-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. Credit for expenses associated with employee | ||||||||||||||||||||||||
8 | wellness. | ||||||||||||||||||||||||
9 | (a) For taxable years beginning on or after January 1, | ||||||||||||||||||||||||
10 | 2022, each taxpayer business is entitled to a credit against | ||||||||||||||||||||||||
11 | the taxes imposed by subsections (a) and (b) of Section 201 in | ||||||||||||||||||||||||
12 | an amount equal to 100% of the costs incurred by the taxpayer | ||||||||||||||||||||||||
13 | in paying for screenings, treatments, and recommendations | ||||||||||||||||||||||||
14 | associated with individual employees' physical, mental, and | ||||||||||||||||||||||||
15 | emotional wellness. | ||||||||||||||||||||||||
16 | (b) In no event shall a credit under this Section reduce | ||||||||||||||||||||||||
17 | the taxpayer's liability to less than zero. If the amount of | ||||||||||||||||||||||||
18 | the credit exceeds the tax liability for the year, the excess | ||||||||||||||||||||||||
19 | may be carried forward and applied to the tax liability of the | ||||||||||||||||||||||||
20 | 5 taxable years following the excess credit year. The tax | ||||||||||||||||||||||||
21 | credit shall be applied to the earliest year for which there is | ||||||||||||||||||||||||
22 | a tax liability. If there are credits for more than one year | ||||||||||||||||||||||||
23 | that are available to offset a liability, the earlier credit |
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1 | shall be applied first. | ||||||
2 | (c) For partners, shareholders of subchapter S | ||||||
3 | corporations, and owners of limited liability companies, if | ||||||
4 | the liability company is treated as a partnership for purposes | ||||||
5 | of federal and State income taxation, there shall be allowed a | ||||||
6 | credit under this Section to be determined in accordance with | ||||||
7 | the determination of income and distributive share of income | ||||||
8 | under Sections 702 and 704 and subchapter S of the Internal | ||||||
9 | Revenue Code. | ||||||
10 | (d) This Section is exempt from the provisions of Section | ||||||
11 | 250.
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12 | Section 99. Effective date. This Act takes effect upon | ||||||
13 | becoming law.
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