Full Text of HB3283 103rd General Assembly
HB3283 103RD GENERAL ASSEMBLY |
| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024 HB3283 Introduced 2/17/2023, by Rep. Abdelnasser Rashid 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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| | | HB3283 | | LRB103 30423 HLH 56853 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, (v) 18% of the | 22 | | federal tax credit for each taxable year beginning on or after | 23 | | January 1, 2018 and beginning prior to January 1, 2023, and |
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| 1 | | (vi) 20% of the federal tax credit for each taxable year | 2 | | beginning on or after January 1, 2023.
| 3 | | For a non-resident or part-year resident, the amount of | 4 | | the credit under this
Section shall be in proportion to the | 5 | | amount of income attributable to this
State.
| 6 | | (b) For taxable years beginning before January 1, 2003, in | 7 | | no event
shall a credit under this Section reduce the | 8 | | taxpayer's
liability to less than zero. For each taxable year | 9 | | beginning on or after
January 1, 2003, if the amount of the | 10 | | credit exceeds the income tax liability
for the applicable tax | 11 | | year, then the excess credit shall be refunded to the
| 12 | | taxpayer. The amount of a refund shall not be included in the | 13 | | taxpayer's
income or resources for the purposes of determining | 14 | | eligibility or benefit
level in any means-tested benefit | 15 | | program administered by a governmental entity
unless required | 16 | | by federal law.
| 17 | | (b-5) For taxable years beginning on or after January 1, | 18 | | 2023, each individual taxpayer who has attained the age of 18 | 19 | | during the taxable year but has not yet attained the age of 25 | 20 | | is entitled to the credit under paragraph (a) based on the | 21 | | federal tax credit for which the taxpayer would have been | 22 | | eligible without regard to any age requirements that would | 23 | | otherwise apply to individuals without a qualifying child in | 24 | | Section 32(c)(1)(A)(ii) of the federal Internal Revenue Code. | 25 | | (b-10) For taxable years beginning on or after January 1, | 26 | | 2023, each individual taxpayer who has attained the age of 65 |
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| 1 | | or older during the taxable year is entitled to the credit | 2 | | under paragraph (a) based on the federal tax credit for which | 3 | | the taxpayer would have been eligible without regard to any | 4 | | age requirements that would otherwise apply to individuals | 5 | | without a qualifying child in Section 32(c)(1)(A)(ii) of the | 6 | | federal Internal Revenue Code. | 7 | | (b-15) For taxable years beginning on or after January 1, | 8 | | 2023, each individual taxpayer filing a return using an | 9 | | individual taxpayer identification number (ITIN) as prescribed | 10 | | under Section 6109 of the Internal Revenue Code, other than a | 11 | | Social Security number issued pursuant to Section 205(c)(2)(A) | 12 | | of the Social Security Act, is entitled to the credit under | 13 | | paragraph (a) based on the federal tax credit for which they | 14 | | would have been eligible without applying the restrictions | 15 | | regarding social security numbers in Section 32(m) of the | 16 | | federal Internal Revenue Code. | 17 | | (c) This Section is exempt from the provisions of Section | 18 | | 250.
| 19 | | (Source: P.A. 102-700, eff. 4-19-22.)
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