Bill Text: IL SB2594 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Removes a provision providing that the aggregate amount of credits awarded under a provision granting a credit to volunteer emergency workers may not exceed $5,000,000 in any calendar year. Effective immediately.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments [SB2594 Detail]
Download: Illinois-2023-SB2594-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 | changing Section 234 as follows:
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6 | (35 ILCS 5/234) | |||||||||||||||||||
7 | Sec. 234. Volunteer emergency workers. | |||||||||||||||||||
8 | (a) For taxable years beginning on or after January 1, | |||||||||||||||||||
9 | 2023 and beginning prior to January 1, 2028, each individual | |||||||||||||||||||
10 | who (i) serves as a volunteer emergency worker for at least 9 | |||||||||||||||||||
11 | months during the taxable year and (ii) does not receive | |||||||||||||||||||
12 | compensation for his or her services as a volunteer emergency | |||||||||||||||||||
13 | worker of more than $5,000 for the taxable year may apply to | |||||||||||||||||||
14 | the Department for a credit against the taxes imposed by | |||||||||||||||||||
15 | subsections (a) and (b) of Section 201. The amount of the | |||||||||||||||||||
16 | credit shall be $500 per eligible individual. The aggregate | |||||||||||||||||||
17 | amount of all tax credits
awarded by the Department under this | |||||||||||||||||||
18 | Section in any calendar year
may not exceed $5,000,000. | |||||||||||||||||||
19 | Credits shall be awarded on a first-come first-served basis. | |||||||||||||||||||
20 | (b) A credit under this Section may not reduce a | |||||||||||||||||||
21 | taxpayer's liability to less than zero. | |||||||||||||||||||
22 | (c) By January 24 of each year, the Office of the State | |||||||||||||||||||
23 | Fire Marshal shall provide the Department of Revenue an |
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1 | electronic file with the names of volunteer emergency workers | ||||||
2 | who (i) volunteered for at least 9 months during the | ||||||
3 | immediately preceding calendar year, (ii) did not receive | ||||||
4 | compensation for their services as a volunteer emergency | ||||||
5 | worker of more than $5,000 during the immediately preceding | ||||||
6 | calendar year, and (iii) are registered with the Office of the | ||||||
7 | State Fire Marshal as of January 12 of the current year as | ||||||
8 | meeting the requirements of items (i) and (ii) for the | ||||||
9 | immediately preceding calendar year. The chief of the fire | ||||||
10 | department, fire protection district, or fire protection | ||||||
11 | association shall be responsible for notifying the State Fire | ||||||
12 | Marshal of the volunteer emergency workers who met the | ||||||
13 | requirements of items (i) and (ii) during the immediately | ||||||
14 | preceding calendar year by January 12 of the current year. | ||||||
15 | Notification shall be required in the format required by the | ||||||
16 | State Fire Marshal. The chief of the fire department, fire | ||||||
17 | protection district, or fire protection association shall be | ||||||
18 | responsible for the verification and accuracy of their | ||||||
19 | submission to the State Fire Marshal under this subsection. | ||||||
20 | (d) As used in this Section, "volunteer emergency worker" | ||||||
21 | means a person who serves as a member, other than on a | ||||||
22 | full-time career basis, of a fire department, fire protection | ||||||
23 | district, or fire protection association that has a Fire | ||||||
24 | Department Identification Number issued by the Office of the | ||||||
25 | State Fire Marshal and who does not serve as a member on a | ||||||
26 | full-time career basis for another fire department, fire |
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1 | protection district, fire protection association, or | ||||||
2 | governmental entity. | ||||||
3 | (e) The Department shall adopt rules to implement and | ||||||
4 | administer this Section, including rules concerning | ||||||
5 | applications for the tax credit.
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6 | (Source: P.A. 103-9, eff. 6-7-23.)
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7 | Section 99. Effective date. This Act takes effect upon | ||||||
8 | becoming law.
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