103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
Introduced 2/17/2023, by Rep. Adam M. Niemerg
SYNOPSIS AS INTRODUCED:
Amends the Illinois Income Tax Act. Creates a credit in an amount
equal to the eligible expenses incurred for engaging in qualified tourism
activities by the taxpayer during the taxable year. Effective immediately.
A BILL FOR
|HB3513||LRB103 25949 HLH 52301 b|
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Illinois Income Tax Act is amended by
adding Section 234 as follows:
(35 ILCS 5/234 new)
Illinois tourism tax credit.
(a) For taxable years beginning on or after January 1,
2024 and ending before January 1, 2027, each taxpayer is
entitled to a credit against the taxes imposed by subsections
(a) and (b) of Section 201 of this Act in an amount equal to
the eligible expenses incurred for engaging in qualified
tourism activities by the taxpayer during the taxable year. In
no event may the amount of the credit under this Section exceed
$5,000 for any taxpayer in any taxable year.
(b) As used in this Section:
"Eligible expenses" means any expense that is paid or
incurred by the taxpayer during any period of qualified travel
and that is related to any of the following: (i) food and
beverages; (ii) lodging; (iii) transportation; (iv) live
entertainment events, such as sporting events; and (v)
expenses related to attending a conference or business