101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB5532

 

Introduced , by Rep. Monica Bristow

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/232 new

    Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5532LRB101 17229 HLH 66633 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 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Caregiver credit.
8    (a) For taxable years ending on or after December 31, 2020,
9each taxpayer who is an eligible caregiver of a veteran with a
10disability is entitled to a credit against the tax imposed by
11subsections (a) and (b) of Section 201 in an amount equal to 5%
12of the costs incurred in caring for the veteran, not to exceed
13$1,000 in credits in any taxable year.
14    (b) In no event shall a credit under this Section reduce a
15taxpayer's liability to less than zero. If the amount of credit
16exceeds the tax liability for the year, the excess may be
17carried forward and applied to the tax liability for the 5
18taxable years following the excess credit year. The tax credit
19shall be applied to the earliest year for which there is a tax
20liability. If there are credits for more than one year that are
21available to offset liability, the earlier credit shall be
22applied first.
23    (c) As used in this Section:

 

 

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1    "Costs incurred" means, but is not limited to: expenditures
2for respite care; expenditures for counseling or support
3groups; training related to caring for a veteran with
4disability; travel costs; technology that assists in providing
5care; and expenditures for medical and hygiene items used by
6the veteran.
7    "Eligible caregiver" means a family member or paid worker
8who provides care for a qualified veteran with a disability and
9assists with performing the activities of daily life.
10    "Veteran" means an Illinois resident who has served as a
11member of the United States Armed Forces on active duty or
12State active duty, a member of the Illinois National Guard, or
13a member of the United States Reserve Forces who has received
14an honorable discharge.
15    "Veteran with a disability" means a veteran with a
16service-connected disability, as certified by the United
17States Department of Veterans Affairs.
18    (d) This Section is exempt from the provisions of Section
19250.
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law.