101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4857
 
Introduced 2/18/2020, by Rep. Michael T. Marron
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/232 new

     Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $1,000 to a taxpayer that employs a qualifying employee who currently participates in a Moving to Work program in the State. Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
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1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Illinois Income Tax Act is amended  by adding 
5Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Moving for Work.
8    (a) For taxable years beginning on or after January 1, 
92020, there shall be allowed a credit against the tax imposed 
10by subsection (a) and (b) of Section 201 of this Act in an 
11amount equal to $1,000 to a taxpayer that employs a qualifying 
12employee who currently participates in a Moving to Work program 
13in the State of Illinois. 
14    (b) In no event shall a credit under this subsection reduce 
15a taxpayer's liability to less than zero. If the amount of the 
16credit exceeds the tax liability for the year, the excess may 
17be carried forward and applied to the tax liability for the 5 
18taxable years following the excess credit year. The tax credit 
19shall be applied to the earliest year for which there is a tax 
20liability. If there are credits for more than one year that are 
21available to offset liability, the earlier credit shall be 
22applied first. 
23    (c) The Illinois Housing Development Authority, in 
 
 
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1collaboration with the Department of Revenue, shall adopt rules 
2to implement the provisions of this Section. 
3    (d) For the purposes of this Section, "qualifying employee" 
4means an Illinois resident who is employed by the taxpayer and 
5who participates in a Moving to Work program in the State of 
6Illinois that is administered by a public housing authority in 
7the State of Illinois as part of a federal United States 
8Department of Housing and Urban Development program. 
9    (e) This Section is exempt from the provisions of Section 
10250. 
  
 
11    Section 99. Effective date. This Act takes effect upon 
12becoming law.