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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB0344 Introduced 2/2/2023, by Sen. Christopher Belt SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to $500 for individuals who serve as volunteer emergency workers for at least 9 months during the taxable year and do not receive compensation of more than $10,000 during the taxable year for that service. Defines "volunteer emergency worker". Effective immediately.
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| | A BILL FOR |
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| | SB0344 | | LRB103 26216 HLH 52575 b |
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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 234 as follows:
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| 6 | | (35 ILCS 5/234 new) |
| 7 | | Sec. 234. Volunteer firefighters and volunteer EMS |
| 8 | | providers. |
| 9 | | (a) For taxable years beginning on or after January 1, |
| 10 | | 2024, each individual who serves as a volunteer emergency |
| 11 | | worker, as defined in this Section, for at least 9 months |
| 12 | | during the taxable year and does not receive compensation for |
| 13 | | his or her services as a volunteer emergency worker of more |
| 14 | | than $10,000 for the taxable year is entitled to a credit |
| 15 | | against the taxes imposed by subsections (a) and (b) of |
| 16 | | Section 201 in an amount equal to $500. |
| 17 | | (b) In no event shall a credit under this Section reduce a |
| 18 | | taxpayer's liability to less than zero. If the amount of the |
| 19 | | credit exceeds the tax liability for the year, the excess may |
| 20 | | be carried forward and applied to the tax liability for the 5
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| 21 | | taxable years following the excess credit year. The tax credit |
| 22 | | shall be applied to the earliest year for which there is a tax |
| 23 | | liability. If there are credits for more than one year that are |