95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB6691


 
Introduced , by Rep. Dennis M. Reboletti
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 5/218 new










    Amends the Illinois Income Tax Act.  Provides that elementary and secondary school teachers are entitled to a credit under the Act in an amount equal  to personal  expenditures  made  by  the  teacher  for teaching materials.  Provides that the credit is limited to $500 or the individual's tax liability, whichever is less.  Effective immediately.
















LRB095 22134 HLH 52423 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB6691

LRB095 22134 HLH 52423 b






1
    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 218 as follows:
 
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    (35 ILCS 5/218  new)
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    Sec. 218. Classroom expense credit.  For  taxable  years 
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beginning on or after January 1, 2008, an individual taxpayer 
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whose primary occupation is an elementary or secondary school 
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teacher  is entitled to a credit against the taxes imposed by 
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subsections (a) and (b) of Section 201 of this Act in an amount 
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equal  to personal  expenditures  made  by  the  taxpayer  for 
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teaching materials as defined by rule of the Department.   The  
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amount of  the  credit  is  limited  to $500 or the individual's tax 
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liability, whichever is less.  If  the  amount  of  a  credit exceeds  
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the  tax liability for the year, then the excess may not be 
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carried forward and applied to the tax liability of  a 
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succeeding  taxable  year.  This  Section  is exempt from the 
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provisions of Section 250.
 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.