Bill Text: IL SB3638 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit for an individual taxpayer who is a medical professional in a community-based practice who serves without compensation as a preceptor for at least one student from a qualifying institution in Illinois and provides clinical instruction for students from a non-Illinois based program for compensation in the same tax year. Provides that the credit shall be $200 per qualifying student per week, but not to exceed $9,600 per taxpayer in any tax year.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2022-01-19 - Referred to Assignments [SB3638 Detail]
Download: Illinois-2021-SB3638-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. Clinical preceptor credit. | |||||||||||||||||||
8 | (a) For taxable years beginning on or after January 1, | |||||||||||||||||||
9 | 2023, each individual taxpayer who is a medical professional | |||||||||||||||||||
10 | in a community-based practice who serves without compensation | |||||||||||||||||||
11 | as a preceptor for at least one student from a qualifying | |||||||||||||||||||
12 | institution in Illinois and provides clinical instruction for | |||||||||||||||||||
13 | students from a non-Illinois based program for compensation in | |||||||||||||||||||
14 | the same tax year is eligible for a credit against the tax | |||||||||||||||||||
15 | imposed by subsections (a) and (b) of Section 201 as provided | |||||||||||||||||||
16 | in this Section. Only one taxpayer may claim a credit under | |||||||||||||||||||
17 | this Section for serving as a preceptor for any particular | |||||||||||||||||||
18 | student in any tax year. The amount of the credit shall be $200 | |||||||||||||||||||
19 | per qualifying student per week, but not to exceed $9,600 per | |||||||||||||||||||
20 | taxpayer in any tax year. | |||||||||||||||||||
21 | (b) In no event shall a credit under this Section reduce | |||||||||||||||||||
22 | the taxpayer's liability to less than zero. If the amount of | |||||||||||||||||||
23 | the credit exceeds the tax liability for the year, the excess |
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1 | may be carried forward and applied to the tax liability of the | ||||||
2 | 5 taxable years following the excess credit year. The tax | ||||||
3 | credit shall be applied to the earliest year for which there is | ||||||
4 | a tax liability. If there are credits for more than one year | ||||||
5 | that are available to offset a liability, the earlier credit | ||||||
6 | shall be applied first. | ||||||
7 | (c) As used in this Section: | ||||||
8 | "Community-based practice" means family medicine,
internal | ||||||
9 | medicine,
pediatrics,
obstetrics and gynecology,
psychiatry,
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10 | general surgery, and
podiatric medicine. | ||||||
11 | "Medical professional" means a physician, physician | ||||||
12 | assistant,
advanced practice registered nurse, or
podiatrist. | ||||||
13 | "Preceptor" means a licensed medical professional who: (i) | ||||||
14 | provides uncompensated supervision and instruction during | ||||||
15 | student-required clinical training rotations to enable the | ||||||
16 | student to obtain an eligible professional degree; and (ii) | ||||||
17 | provides a minimum of 8 required clinical rotation weeks | ||||||
18 | within a calendar year. | ||||||
19 | "Qualifying institution" means a public or private | ||||||
20 | university or college accredited through the Higher Learning | ||||||
21 | Commission with a physical campus in the State. | ||||||
22 | "Qualifying student" means a student from an Illinois | ||||||
23 | qualifying institution for whom the taxpayer serves as a | ||||||
24 | preceptor without compensation.
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