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Sen. Linda Holmes
Filed: 4/1/2022
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| 1 | | AMENDMENT TO SENATE BILL 1150
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1150, AS AMENDED, |
| 3 | | by inserting Article 35 in its proper numeric sequence as |
| 4 | | follows:
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| 5 | | "Article 35. INSTRUCTIONAL MATERIALS
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| 6 | | Section 35-5. The Illinois Income Tax Act is amended by |
| 7 | | changing Section 225 as follows:
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| 8 | | (35 ILCS 5/225) |
| 9 | | Sec. 225. Credit for instructional materials and supplies. |
| 10 | | For taxable years beginning on and after January 1, 2017, a |
| 11 | | taxpayer shall be allowed a credit in the amount paid by the |
| 12 | | taxpayer during the taxable year for instructional materials |
| 13 | | and supplies with respect to classroom based instruction in a |
| 14 | | qualified school, or the maximum credit amount $250, whichever |
| 15 | | is less, provided that the taxpayer is a teacher, instructor, |
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| | 10200SB1150sam007 | - 2 - | LRB102 04951 HLH 38440 a |
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| 1 | | counselor, principal, or aide in a qualified school for at |
| 2 | | least 900 hours during a school year. |
| 3 | | The credit may not be carried back and may not reduce the |
| 4 | | taxpayer's liability to less than zero. If the amount of the |
| 5 | | credit exceeds the tax liability for the year, the excess may |
| 6 | | be carried forward and applied to the tax liability of the 5 |
| 7 | | taxable years following the excess credit year. The tax credit |
| 8 | | shall be applied to the earliest year for which there is a tax |
| 9 | | liability. If there are credits for more than one year that are |
| 10 | | available to offset a liability, the earlier credit shall be |
| 11 | | applied first. |
| 12 | | For purposes of this Section, the term "materials and |
| 13 | | supplies" means amounts paid for instructional materials or |
| 14 | | supplies that are designated for classroom use in any |
| 15 | | qualified school. For purposes of this Section, the term |
| 16 | | "qualified school" means a public school or non-public school |
| 17 | | located in Illinois. |
| 18 | | For purposes of this Section, the term "maximum credit |
| 19 | | amount" means (i) $250 for taxable years beginning prior to |
| 20 | | January 1, 2023 and (ii) $300 for taxable years beginning on or |
| 21 | | after January 1, 2023. |
| 22 | | This Section is exempt from the provisions of Section 250.
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| 23 | | (Source: P.A. 100-22, eff. 7-6-17.)".
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