Bill Text: IL HB3513 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the eligible expenses incurred for engaging in qualified tourism activities by the taxpayer during the taxable year. Effective immediately.

Sponsorship: Partisan Bill (Republican 2)

Status: (Failed) 2025-01-07 - Session Sine Die [HB3513 Detail]

Download: Illinois-2023-HB3513-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3513 Introduced , by Rep. Adam M. Niemerg SYNOPSIS AS INTRODUCED:
35 ILCS 5/234 new
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the eligible expenses incurred for engaging in qualified tourism activities by the taxpayer during the taxable year. Effective immediately.
LRB103 25949 HLH 52301 b
A BILL FOR
HB3513 LRB103 25949 HLH 52301 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 234 as follows:
(35 ILCS 5/234 new)
Sec. 234. Illinois tourism tax credit.
(a) For taxable years beginning on or after January 1,
2024 and ending before January 1, 2027, each taxpayer is
entitled to a credit against the taxes imposed by subsections
(a) and (b) of Section 201 of this Act in an amount equal to
the eligible expenses incurred for engaging in qualified
tourism activities by the taxpayer during the taxable year. In
no event may the amount of the credit under this Section exceed
$5,000 for any taxpayer in any taxable year.
(b) As used in this Section:
"Eligible expenses" means any expense that is paid or
incurred by the taxpayer during any period of qualified travel
and that is related to any of the following: (i) food and
beverages; (ii) lodging; (iii) transportation; (iv) live
entertainment events, such as sporting events; and (v)
expenses related to attending a conference or business
meeting.

HB3513 - 2 - LRB103 25949 HLH 52301 b
"Qualifying travel" means any travel on or after January
1, 2024 and on or before December 31, 2026 within the State of
Illinois to a final destination that is more than 50 miles from
the principal residence of the taxpayer, including a
destination such as a vacation home.
(c) For purposes of this Section, no credit shall be
allowed with respect to any expenses that are related to
business expenses for which a deduction is allowed or
allowable to a taxpayer under Section 162(a)(2) of the federal
Internal Revenue Code.
(d) The Department of Revenue shall adopt any rules
necessary to implement and administer the provisions of this
Section.
(e) In no event shall a credit under this Section reduce a
taxpayer's liability to less than zero. If the amount of
credit exceeds the tax liability for the year, the excess may
be carried forward and applied to the tax liability for 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 liability, the earlier credit shall be
applied first.
Section 99. Effective date. This Act takes effect upon
becoming law.