Illinois General Assembly - Full Text of SB0571
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Full Text of SB0571  93rd General Assembly

SB0571 93rd General Assembly


                                     LRB093 09594 RCE 09832 b

 1        AN ACT concerning taxes.

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

 4        Section 5.  The Illinois Income Tax  Act  is  amended  by
 5    adding Section 213 as follows:

 6        (35 ILCS 5/213 new)
 7        Sec. 213.  Educational expense credit.
 8        (a)  Beginning  with  tax years ending after December 31,
 9    2003, a taxpayer who is an Illinois elementary  or  secondary
10    school  teacher  shall  be  allowed  a credit against the tax
11    imposed by subsections (a) and (b) of this Act for  qualified
12    expenses  incurred  while employed. The credit shall be equal
13    to 50% of the qualified expense, but  in  no  event  may  the
14    total  credit  under  this  Section  exceed $500. In no event
15    shall a credit  under  this  Section  reduce  the  taxpayer's
16    liability  under this Act to less than zero.  This Section is
17    exempt from the provisions of Section 250 of this Act.
18        (b)  For the purposes of this Section;
19        "Qualifying expenses" means the amount  expended  by  the
20    teacher  for  his or her own classroom that was not purchased
21    with school funds.
22        "School" means any  public  or  nonpublic  elementary  or
23    secondary school in Illinois that is in compliance with Title
24    VI  of  the  Civil Rights Act of 1964 and attendance at which
25    satisfies the requirements of  Section  26-1  of  the  School
26    Code.

27        Section  99.   Effective  date.  This Act takes effect on
28    July 1, 2003.