99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB3189
 
Introduced , by Rep. Eddie Lee Jackson, Sr.
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/224 new

     Amends the Illinois Income Tax Act.  Creates an income tax credit for taxpayers who purchase a new accessible residence,
or retrofit an existing residence to improve accessibility and provide universal visitability.  Provides that the credit may not exceed $2,500.  Provides that the total amount of tax credits granted for any fiscal year
shall not exceed $2,000,000.  Provides that the credit is exempt from the Act's automatic sunset provision.  
  


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB3189LRB099 07192 HLH 31227 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Illinois Income Tax Act is amended  by adding 
5Section 224 as follows:
 
6    (35 ILCS 5/224 new)
7    Sec. 224. Residential accessibility modifications. 
8    (a)  For taxable years beginning on or after January 1, 
92016, any taxpayer who purchases a new residence
or retrofits 
10or hires someone to retrofit an existing residence, provided 
11that such new residence or the
retrofitting of such existing 
12residence is designed to improve accessibility for elderly or 
13disabled individuals and provide universal visitability, shall 
14be allowed a credit against the tax imposed under subsections 
15(a) and (b) of Section 201.  The credit
allowed under this 
16Section shall not exceed $2,500 for each eligible residence.
17    (b)  The credit shall be allowed for the taxable year in 
18which the residence has been purchased or the construction,

19retrofitting, or renovation of the residence or residential 
20structure or unit has been completed. 
21    (c)  Eligible taxpayers shall apply for the credit by making 
22application to the Department of Revenue. The Department of 
23Revenue shall issue a
certification for an approved application 
 
 
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1to the taxpayer. The taxpayer shall attach the certification to 
2the
applicable income tax return. The total amount of tax 
3credits granted under this Section for any fiscal year
shall 
4not exceed $2,000,000. 
5    (d)  In no event shall a credit under this Section reduce 
6the taxpayer's liability to less than zero.  If the amount of 
7credit exceeds the taxpayer's income tax liability for the 
8taxable
year, then the amount that exceeds the tax liability 
9may be carried over for credit against the income taxes
of such 
10taxpayer in the next 7 taxable years or until the total amount 
11of the tax credit issued has been
taken, whichever is sooner.  
12For partners, shareholders of subchapter S corporations, and 
13owners of limited liability companies, if the liability company 
14is treated as a partnership for purposes of federal and State 
15income taxation, there shall be allowed a credit under this 
16Section to be determined in accordance with the determination 
17of income and distributive share of income under Sections 702 
18and 704 and subchapter S of the Internal Revenue Code. 
19    (e)  The Department may adopt rules requiring documentation 
20of the taxpayer's disability and establishing the types of 
21modifications that qualify for the credit under this Section. 
22    (f)   This Section is exempt from the provisions of Section 
23250.