Rep. André M. Thapedi
Filed: 3/4/2009
 
 

 




 

 		












09600HB1811ham001

LRB096 05485 DRJ 22390 a






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AMENDMENT TO HOUSE BILL 1811




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    AMENDMENT NO. ______. Amend House Bill 1811 by replacing 
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everything after the enacting clause with the following:

 
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    "Section 5. The Illinois Income Tax Act is amended  by 
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adding Section 218 as follows:
 
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    (35 ILCS 5/218  new)
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    Sec. 218. Credit for cost of condominium management 
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training.
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    (a) For taxable years ending on or after December 31, 2009, 
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a taxpayer who is a member of a condominium unit owners' 
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association board of managers is entitled to a credit against 
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the tax imposed by subsections (a) and (b) of Section 201 of 
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this Act in an amount equal to 50% of the cost of management 
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training incurred by the taxpayer for the purpose of complying 
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with Section 18.3a of the Condominium Property Act.
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    (b) In no event shall a credit under this Section reduce 
 


 






09600HB1811ham001
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LRB096 05485 DRJ 22390 a




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the taxpayer's liability to less than zero. If the amount of 
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the credit exceeds the tax liability for the year, the excess 
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may be carried forward and applied to the tax liability of the 
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5 taxable years following the excess credit year. The tax 
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credit shall be applied to the earliest year for which there is 
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a tax liability. If there are credits for more than one year 
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that are available to offset a liability, the earlier credit 
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shall be applied first.
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    (c) The credit authorized under this Section is exempt from 
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Section 250.
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    (d) This Section applies only in the case of a unit owners' 
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association created on or after the effective date of this 
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amendatory Act of the 96th General Assembly.
 
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    Section 10. The Condominium Property Act is amended  by 
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adding Section 18.3a as follows:
 
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    (765 ILCS 605/18.3a  new)
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    Sec. 18.3a. Board of managers training. Every unit owners' 
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association that is created on or after the effective date of 
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this amendatory Act of the 96th General Assembly must require 
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that all members of its board of managers complete a management 
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training seminar.
 

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