Illinois General Assembly - Full Text of SB4161
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Full Text of SB4161  102nd General Assembly

SB4161 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB4161

 

Introduced 2/9/2022, by Sen. Sue Rezin

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/204  from Ch. 120, par. 2-204

    Amends the Illinois Income Tax Act. Provides that the additional standard exemption for taxpayers who have attained the age of 65 before the end of the taxable year and spouses of such taxpayers is $2,000 for taxable years beginning on or after January 1, 2022 (currently, $1,000). Effective immediately.


LRB102 24431 HLH 33665 b

 

 

A BILL FOR

 

SB4161LRB102 24431 HLH 33665 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 204 as follows:
 
6    (35 ILCS 5/204)  (from Ch. 120, par. 2-204)
7    Sec. 204. Standard exemption.
8    (a) Allowance of exemption. In computing net income under
9this Act, there shall be allowed as an exemption the sum of the
10amounts determined under subsections (b), (c) and (d),
11multiplied by a fraction the numerator of which is the amount
12of the taxpayer's base income allocable to this State for the
13taxable year and the denominator of which is the taxpayer's
14total base income for the taxable year.
15    (b) Basic amount. For the purpose of subsection (a) of
16this Section, except as provided by subsection (a) of Section
17205 and in this subsection, each taxpayer shall be allowed a
18basic amount of $1000, except that for corporations the basic
19amount shall be zero for tax years ending on or after December
2031, 2003, and for individuals the basic amount shall be:
21        (1) for taxable years ending on or after December 31,
22    1998 and prior to December 31, 1999, $1,300;
23        (2) for taxable years ending on or after December 31,

 

 

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1    1999 and prior to December 31, 2000, $1,650;
2        (3) for taxable years ending on or after December 31,
3    2000 and prior to December 31, 2012, $2,000;
4        (4) for taxable years ending on or after December 31,
5    2012 and prior to December 31, 2013, $2,050;
6        (5) for taxable years ending on or after December 31,
7    2013 and on or before December 31, 2023, $2,050 plus the
8    cost-of-living adjustment under subsection (d-5).
9For taxable years ending on or after December 31, 1992, a
10taxpayer whose Illinois base income exceeds the basic amount
11and who is claimed as a dependent on another person's tax
12return under the Internal Revenue Code shall not be allowed
13any basic amount under this subsection.
14    (c) Additional amount for individuals. In the case of an
15individual taxpayer, there shall be allowed for the purpose of
16subsection (a), in addition to the basic amount provided by
17subsection (b), an additional exemption equal to the basic
18amount for each exemption in excess of one allowable to such
19individual taxpayer for the taxable year under Section 151 of
20the Internal Revenue Code.
21    (d) Additional exemptions for an individual taxpayer and
22his or her spouse. In the case of an individual taxpayer and
23his or her spouse, he or she shall each be allowed additional
24exemptions as follows:
25        (1) Additional exemption for taxpayer or spouse 65
26    years of age or older.

 

 

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1            (A) For taxpayer. If the taxpayer An additional
2        exemption of $1,000 for the taxpayer if he or she has
3        attained the age of 65 before the end of the taxable
4        year, then an additional exemption of (i) $1,000 for
5        taxable years beginning prior to January 1, 2022 and
6        (ii) $2,000 for taxable years beginning on or after
7        January 1, 2022.
8            (B) For spouse when a joint return is not filed. If
9        An additional exemption of $1,000 for the spouse of
10        the taxpayer if a joint return is not made by the
11        taxpayer and his spouse, and if the spouse has
12        attained the age of 65 before the end of such taxable
13        year, and, for the calendar year in which the taxable
14        year of the taxpayer begins, has no gross income and is
15        not the dependent of another taxpayer, then an
16        additional exemption of (i) $1,000 for taxable years
17        beginning prior to January 1, 2022 and (ii) $2,000 for
18        taxable years beginning on or after January 1, 2022.
19        (2) Additional exemption for blindness of taxpayer or
20    spouse.
21            (A) For taxpayer. An additional exemption of
22        $1,000 for the taxpayer if he or she is blind at the
23        end of the taxable year.
24            (B) For spouse when a joint return is not filed. An
25        additional exemption of $1,000 for the spouse of the
26        taxpayer if a separate return is made by the taxpayer,

 

 

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1        and if the spouse is blind and, for the calendar year
2        in which the taxable year of the taxpayer begins, has
3        no gross income and is not the dependent of another
4        taxpayer. For purposes of this paragraph, the
5        determination of whether the spouse is blind shall be
6        made as of the end of the taxable year of the taxpayer;
7        except that if the spouse dies during such taxable
8        year such determination shall be made as of the time of
9        such death.
10            (C) Blindness defined. For purposes of this
11        subsection, an individual is blind only if his or her
12        central visual acuity does not exceed 20/200 in the
13        better eye with correcting lenses, or if his or her
14        visual acuity is greater than 20/200 but is
15        accompanied by a limitation in the fields of vision
16        such that the widest diameter of the visual fields
17        subtends an angle no greater than 20 degrees.
18    (d-5) Cost-of-living adjustment. For purposes of item (5)
19of subsection (b), the cost-of-living adjustment for any
20calendar year and for taxable years ending prior to the end of
21the subsequent calendar year is equal to $2,050 times the
22percentage (if any) by which:
23        (1) the Consumer Price Index for the preceding
24    calendar year, exceeds
25        (2) the Consumer Price Index for the calendar year
26    2011.

 

 

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1    The Consumer Price Index for any calendar year is the
2average of the Consumer Price Index as of the close of the
312-month period ending on August 31 of that calendar year.
4    The term "Consumer Price Index" means the last Consumer
5Price Index for All Urban Consumers published by the United
6States Department of Labor or any successor agency.
7    If any cost-of-living adjustment is not a multiple of $25,
8that adjustment shall be rounded to the next lowest multiple
9of $25.
10    (e) Cross reference. See Article 3 for the manner of
11determining base income allocable to this State.
12    (f) Application of Section 250. Section 250 does not apply
13to the amendments to this Section made by Public Act 90-613.
14    (g) Notwithstanding any other provision of law, for
15taxable years beginning on or after January 1, 2017, no
16taxpayer may claim an exemption under this Section if the
17taxpayer's adjusted gross income for the taxable year exceeds
18(i) $500,000, in the case of spouses filing a joint federal tax
19return or (ii) $250,000, in the case of all other taxpayers.
20(Source: P.A. 100-22, eff. 7-6-17; 100-865, eff. 8-14-18.)
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.