Bill Text: IL HB5625 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Provides that an employer that incurs expenses to train a qualifying individual to obtain a commercial driver's license or to operate a commercial motor vehicle may apply to the Department of Revenue for an income tax credit in an amount equal to 50% of those training expenses. Set forth aggregate credit limits and limits the amount of credits available to any particular employer under those provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-02-18 - Referred to Rules Committee [HB5625 Detail]
Download: Illinois-2019-HB5625-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 adding | ||||||||||||||||||||||||
5 | Section 232 as follows:
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6 | (35 ILCS 5/232 new) | ||||||||||||||||||||||||
7 | Sec. 232. Training expenses for a commercial driver's | ||||||||||||||||||||||||
8 | license. | ||||||||||||||||||||||||
9 | (a) As used in this Section: | ||||||||||||||||||||||||
10 | "Qualifying individual" means an individual who holds
a | ||||||||||||||||||||||||
11 | valid commercial driver's license or who is eligible to obtain
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12 | such a license. | ||||||||||||||||||||||||
13 | "Training expense" means any cost customarily incurred by | ||||||||||||||||||||||||
14 | an employer to train a qualifying individual to obtain a | ||||||||||||||||||||||||
15 | commercial driver's license or to operate a commercial motor | ||||||||||||||||||||||||
16 | vehicle. An employee's wages are not considered a training | ||||||||||||||||||||||||
17 | expense. | ||||||||||||||||||||||||
18 | (b) For taxable years ending on or after December 31, 2020 | ||||||||||||||||||||||||
19 | and ending on or before December 31, 2022, an employer that | ||||||||||||||||||||||||
20 | incurs training expenses during the taxable year may apply to | ||||||||||||||||||||||||
21 | the Department for a credit against the tax imposed by | ||||||||||||||||||||||||
22 | subsections (a) and (b) of Section 201 in an amount equal to | ||||||||||||||||||||||||
23 | 50% of those training expenses. The Department shall certify no |
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1 | more than $50,000 in expenses per year for any one employer. | ||||||
2 | The Department shall certify no more than $3,000,000 in | ||||||
3 | training expenses for all employers in any year, increased by | ||||||
4 | the sum of tax credit-eligible
expenses the Department was | ||||||
5 | authorized to certify for preceding years
that were not the | ||||||
6 | basis of a tax credit certificate issued under
this Section in | ||||||
7 | the current year or any
preceding year. | ||||||
8 | (c) For partners, shareholders of subchapter S | ||||||
9 | corporations, and members of limited liability companies, if | ||||||
10 | the liability company is treated as a partnership for purposes | ||||||
11 | of federal and State income taxation, there shall be allowed a | ||||||
12 | credit under this subsection to be determined in accordance | ||||||
13 | with the determination of income and distributive share of | ||||||
14 | income under Sections 702 and 704 and subchapter S of the | ||||||
15 | Internal Revenue Code. | ||||||
16 | (d) The credit or credits may not reduce the taxpayer's
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17 | liability to less than zero. If the amount of the credit or | ||||||
18 | credits exceeds the taxpayer's liability, the excess may be | ||||||
19 | carried forward and applied against the taxpayer's liability in | ||||||
20 | next 5 succeeding calendar years. The credit or credits shall | ||||||
21 | be applied to the earliest year for which there is a tax | ||||||
22 | liability. If there are credits from more than one taxable year | ||||||
23 | that are available to offset a liability, the earlier credit | ||||||
24 | shall be applied first.
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