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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4684
Introduced 1/12/2006, by Rep. Rich Brauer SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Provides that for taxable years
ending on or after December 31, 2006, each taxpayer who was a member
in good standing of a volunteer fire department during the entire taxable year
is entitled to an income tax credit. Provides that the credit may not exceed
$500 or the amount of the taxpayer's liability under this Act, whichever is
less. Prohibits the carry forward of an excess tax credit to a succeeding
year's tax liability. Exempts the provisions from the sunset requirements.
Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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HB4684 |
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LRB094 17228 BDD 52517 b |
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| AN ACT concerning taxes.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Income Tax Act is amended by adding |
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| Section 216 as
follows:
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| (35 ILCS 5/216 new)
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| Sec. 216. Tax credit for volunteer firefighters.
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| (a) For taxable years
ending on or after December 31, 2006, |
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| each taxpayer who was a member in good
standing of a volunteer |
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| fire department during the entire taxable year is
entitled to a |
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| credit against the tax imposed by subsections (a) and (b) of
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| Section 201. The credit allowed under this Section may not |
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| exceed $500 or the
amount of the taxpayer's liability under |
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| this Act, whichever is less. If the
amount of the credit |
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| exceeds the taxpayer's liability under this Act for the
year, |
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| then the excess may not be carried forward to apply to the |
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| taxpayer's
liability for the succeeding year. |
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| (b) For the purposes of this Section, "volunteer |
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| firefighter" means a firefighter who does not receive monetary |
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| compensation for his or her services to a fire department or |
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| fire protection district. Monetary compensation does not |
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| include a monetary incentive awarded to a firefighter by the |
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| board of trustees of a fire protection district under Section 6 |
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| of the Fire Protection Act. |
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| (c) This Section is exempt from the provisions
of Section |
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| 250.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law. |