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Rep. Dave Severin
Filed: 2/14/2025
| | 10400HB0013ham001 | | LRB104 03342 HLH 19249 a |
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| 1 | | AMENDMENT TO HOUSE BILL 13
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| 2 | | AMENDMENT NO. ______. Amend House Bill 13 on page 2, by |
| 3 | | replacing lines 8 through 16 with the following: |
| 4 | | "(b) A credit under this Section shall not reduce a |
| 5 | | taxpayer's liability to less than zero. If the taxpayer has a |
| 6 | | federal adjusted gross income for the taxable year that does |
| 7 | | not exceed $50,000, then the excess credit amount shall be |
| 8 | | refunded to the taxpayer. The amount of the refund shall not be |
| 9 | | included in the taxpayer's income or resources for the |
| 10 | | purposes of determining the taxpayer's eligibility or benefit |
| 11 | | level for any means-tested benefit program administered by a |
| 12 | | governmental entity unless required by federal law. If the |
| 13 | | taxpayer has a federal adjusted gross income for the taxable |
| 14 | | year that is $50,000 or more, then the excess credit amount |
| 15 | | shall be carried forward and applied to the tax liability for |
| 16 | | the 5 taxable years following the excess credit year. The tax |
| 17 | | credit shall be applied to the earliest year for which there is |
| 18 | | a tax liability. If there are credits for more than one year |