97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3541

 

Introduced 2/24/2011, by Rep. John E. Bradley

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/212

    Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning the earned income tax credit.


LRB097 09125 HLH 49260 b

 

 

A BILL FOR

 

HB3541LRB097 09125 HLH 49260 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
5changing Section 212 as follows:
 
6    (35 ILCS 5/212)
7    Sec. 212. Earned income tax credit.
8    (a) With respect to the the federal earned income tax
9credit allowed for the taxable year under Section 32 of the
10federal Internal Revenue Code, 26 U.S.C. 32, each individual
11taxpayer is entitled to a credit against the tax imposed by
12subsections (a) and (b) of Section 201 in an amount equal to 5%
13of the federal tax credit for each taxable year beginning on or
14after January 1, 2000.
15    For a non-resident or part-year resident, the amount of the
16credit under this Section shall be in proportion to the amount
17of income attributable to this State.
18    (b) For taxable years beginning before January 1, 2003, in
19no event shall a credit under this Section reduce the
20taxpayer's liability to less than zero. For each taxable year
21beginning on or after January 1, 2003, if the amount of the
22credit exceeds the income tax liability for the applicable tax
23year, then the excess credit shall be refunded to the taxpayer.

 

 

HB3541- 2 -LRB097 09125 HLH 49260 b

1The amount of a refund shall not be included in the taxpayer's
2income or resources for the purposes of determining eligibility
3or benefit level in any means-tested benefit program
4administered by a governmental entity unless required by
5federal law.
6    (c) This Section is exempt from the provisions of Section
7250.
8(Source: P.A. 95-333, eff. 8-21-07.)