103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB4463
 
Introduced 1/16/2024, by Rep. Rita Mayfield
 
SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/225
    Amends the Illinois Income Tax Act. Provides that the maximum amount of the credit for instructional materials and supplies is $5,000 for taxable years beginning on or after January 1, 2024 (currently, $500). Effective immediately.


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A BILL FOR
 
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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 
5changing Section 225 as follows:
 
6    (35 ILCS 5/225)
7    Sec. 225. Credit for instructional materials and supplies. 
8For taxable years beginning on and after January 1, 2017, a 
9taxpayer shall be allowed a credit in the amount paid by the 
10taxpayer during the taxable year for instructional materials 
11and supplies with respect to classroom based instruction in a 
12qualified school, or the maximum credit amount, whichever is 
13less, provided that the taxpayer is a teacher, instructor, 
14counselor, principal, or aide in a qualified school for at 
15least 900 hours during a school year.
16    The credit may not be carried back and may not reduce the 
17taxpayer's liability to less than zero. If the amount of the 
18credit exceeds the tax liability for the year, the excess may 
19be carried forward and applied to the tax liability of the 5 
20taxable years following the excess credit year. The tax credit 
21shall be applied to the earliest year for which there is a tax 
22liability. If there are credits for more than one year that are 
23available to offset a liability, the earlier credit shall be 
 
 
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1applied first. 
2    For purposes of this Section, the term "materials and 
3supplies" means amounts paid for instructional materials or 
4supplies that are designated for classroom use in any 
5qualified school. For purposes of this Section, the term 
6"qualified school" means a public school or non-public school 
7located in Illinois. 
8    For purposes of this Section, the term "maximum credit 
9amount" means (i) $250 for taxable years beginning prior to 
10January 1, 2023, and (ii) $500 for taxable years beginning on 
11or after January 1, 2023 and beginning before January 1, 2024, 
12and (iii) $5,000 for taxable years beginning on or after 
13January 1, 2024. 
14    This Section is exempt from the provisions of Section 250.
15(Source: P.A. 102-700, eff. 4-19-22.)
 
16    Section 99. Effective date. This Act takes effect upon 
17becoming law.