HB2600 103RD GENERAL ASSEMBLY

LRB103 25943 HLH 55861 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB2600

Introduced 2/15/2023, by Rep. Adam M. Niemerg

SYNOPSIS AS INTRODUCED:

35 ILCS 5/234 new

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 50% of the contributions made by the taxpayer during the taxable year to one or more qualifying pregnancy resource centers. Provides that the term "qualifying pregnancy resource center" means a nonprofit organization that is exempt from taxation under Section 501(c) of the Internal Revenue Code and is established for the purpose of providing free assistance to pregnant women in carrying their pregnancies to term.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Income Tax Act is amended by adding Section 234 as follows:

(35 ILCS 5/234 new)

Sec. 234. Women's Opportunity Credit.

(a) For taxable years beginning on or after January 1, 2024, there is allowed a refundable credit against the tax imposed under subsections (a) and (b) of Section 201 in an amount equal to 50% of the contributions made by the taxpayer during the taxable year to one or more qualifying pregnancy resource centers.

(b) As used in this Section, "qualifying pregnancy resource center" means a nonprofit organization that is exempt from taxation under Section 501(c) of the Internal Revenue Code and is established for the purpose of providing free pregnancy tests, ultrasounds, prenatal vitamins, maternity clothing, baby clothes and furniture, diapers, cribs, car seats, housing and utility assistance, nutritional counseling, or other assistance to pregnant women who are carrying their pregnancies to term.

(c) This Section is exempt from the provisions of Section 250.