Illinois General Assembly - Full Text of SB0004
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Full Text of SB0004  93rd General Assembly

SB0004ham001 93rd General Assembly


                                     LRB093 03463 SJM 17257 a

 1                     AMENDMENT TO SENATE BILL 4

 2        AMENDMENT NO.     .  Amend Senate Bill 4 on  page  1,  by
 3    replacing lines 20 and 21 with the following:
 4        "(b)  For taxable years beginning before January 1, 2003,
 5    in  no  event  shall  a  credit under this Section reduce the
 6    taxpayer's liability to less than  zero.   For  each  taxable
 7    year  beginning on or after January 1, 2003, if the amount of
 8    the  credit  exceeds  the  income  tax  liability   for   the
 9    applicable tax year, then the excess credit shall be refunded
10    to  the  taxpayer.   The  amount  of  a  refund  shall not be
11    included in  the  taxpayer's  income  or  resources  for  the
12    purposes  of  determining eligibility or benefit level in any
13    means-tested benefit program administered by  a  governmental
14    entity unless required by federal law.
15        (b-5) Refunds authorized by subsection (b) are subject to
16    the   availability   of  funds  from  the  federal  Temporary
17    Assistance for Needy Families Block  Grant  and  the  State's
18    ability to meet its required Maintenance of Effort.".