Full Text of SB3180 100th General Assembly
SB3180 100TH GENERAL ASSEMBLY |
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018 SB3180 Introduced 2/15/2018, by Sen. Laura M. Murphy SYNOPSIS AS INTRODUCED: | | |
Amends the Illinois Income Tax Act. Makes a technical change in a Section
concerning the earned income tax credit.
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| | A BILL FOR |
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| | | SB3180 | | LRB100 20708 HLH 36173 b |
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| 1 | | AN ACT concerning revenue.
| 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 | | changing 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 | 9 | | credit allowed for the
taxable year under Section 32 of the | 10 | | federal Internal Revenue Code, 26 U.S.C.
32, each individual | 11 | | taxpayer is entitled to a credit against the tax imposed by
| 12 | | subsections (a) and (b) of Section 201 in an amount equal to
| 13 | | (i) 5% of the federal tax credit for each taxable year | 14 | | beginning on or after
January 1,
2000 and ending prior to | 15 | | December 31, 2012, (ii) 7.5% of the federal tax credit for each | 16 | | taxable year beginning on or after January 1, 2012 and ending | 17 | | prior to December 31, 2013, (iii) 10% of the federal tax credit | 18 | | for each taxable year beginning on or after January 1, 2013 and | 19 | | beginning prior to January 1, 2017, (iv) 14% of the federal tax | 20 | | credit for each taxable year beginning on or after January 1, | 21 | | 2017 and beginning prior to January 1, 2018, and (v) 18% of the | 22 | | federal tax credit for each taxable year beginning on or after | 23 | | January 1, 2018.
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| | | SB3180 | - 2 - | LRB100 20708 HLH 36173 b |
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| 1 | | For a non-resident or part-year resident, the amount of the | 2 | | credit under this
Section shall be in proportion to the amount | 3 | | of income attributable to this
State.
| 4 | | (b) For taxable years beginning before January 1, 2003, in | 5 | | no event
shall a credit under this Section reduce the | 6 | | taxpayer's
liability to less than zero. For each taxable year | 7 | | beginning on or after
January 1, 2003, if the amount of the | 8 | | credit exceeds the income tax liability
for the applicable tax | 9 | | year, then the excess credit shall be refunded to the
taxpayer. | 10 | | The amount of a refund shall not be included in the taxpayer's
| 11 | | income or resources for the purposes of determining eligibility | 12 | | or benefit
level in any means-tested benefit program | 13 | | administered by a governmental entity
unless required by | 14 | | federal law.
| 15 | | (c) This Section is exempt from the provisions of Section | 16 | | 250.
| 17 | | (Source: P.A. 100-22, eff. 7-6-17.)
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