SB0327 Engrossed

LRB095 07329 BDD 27470 b






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    AN ACT regarding taxation. 

 
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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. Textbook purchase credit.
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    (a) For taxable years ending on or after December 31, 2007, 
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each individual taxpayer who, during the taxable year, 
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purchases a textbook for use by a higher education student in 
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Illinois is entitled to a credit against the tax imposed under 
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subsections (a) and (b) of Section 201 in an amount equal to 5% 
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of the purchase price of that textbook, but the credit may not 
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exceed $75 with respect to all textbooks purchased during the 
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taxable year.
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    (b) The credit under this Section may not be carried 
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forward or back and may not reduce the taxpayer's liability to 
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less than zero.
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    (c) For the purposes of this Section:
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    "Textbook" means any book or book substitute
that a higher 
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education student uses as a text or text substitute in a 
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particular class or
program recommended by the class 
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instructor.  The term includes books, reusable workbooks, 
 


 






SB0327 Engrossed
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LRB095 07329 BDD 27470 b




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manuals, whether bound
or in loose-leaf form, and instructional 
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computer software, intended as a
principal source of study 
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material for a given class or group of students.
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    "Higher education student" means any student who is 
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enrolled full-time or part-time in a State university, public 
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community college, or institution of higher learning, as 
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defined in the Illinois
Financial Assistance Act for Nonpublic 
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Institutions of Higher
Learning.
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    (d) 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.