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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB2548
Introduced 1/18/2006, by Sen. Miguel del Valle SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Creates an income tax credit of $250 to $1,000 for certain qualified teachers who teach in schools in low-income areas. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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SB2548 |
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LRB094 18749 BDD 54217 b |
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| AN ACT concerning revenue.
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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. Credit for teachers in low-income schools. |
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| (a) For taxable years ending on or after December 31, 2006 |
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| and ending on or before December 30, 2011, each individual |
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| taxpayer who was an eligible teacher during the taxable year is |
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| entitled to a credit against the tax imposed under subsections |
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| (a) and (b) of Section 201 in the amount set forth under |
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| subsection (c). |
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| (b) For purposes of this Section: |
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| "Eligible teacher" means a person who: (i) has completed at |
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| least 4 years of services as a credentialed teacher; (ii) meets |
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| the Illinois criteria as a "highly qualified teacher" in |
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| accordance with the federal No Child Left Behind Act of 2001; |
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| and (iii) teaches in an approved school. |
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| "Approved school" means a public school serving any of |
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| grades kindergarten through 12 in which at least 50% of the |
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| students enrolled during the most recently completed school |
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| year were eligible for free or reduced-price lunches. |
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| (c) The amount of the credit under this Section is: |
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| (1) $250 for an eligible teacher who, as of the last |
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| day of the taxable year, has completed at least 4 years but |
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| less than 6 years as a credentialed teacher; |
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| (2) $500 for an eligible teacher who, as of the last |
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| day of the taxable year, has completed at least 6 years but |
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| less than 11 years as a credentialed teacher; and |
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| (3) $1,000 for an eligible teacher who, as of the last |
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| day of the taxable year, has completed at least 11 years as |