SB1868 102ND GENERAL ASSEMBLY

LRB102 15865 HLH 21234 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1868

Introduced 2/26/2021, by Sen. Jason A. Barickman

SYNOPSIS AS INTRODUCED:

35 ILCS 5/232 new

Amends the Illinois Income Tax Act. Provides that each individual who serves as a volunteer firefighter or a volunteer EMS provider during the taxable year is entitled to a credit in an amount equal to $500. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

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

Section 5. The Illinois Income Tax Act is amended by adding Section 232 as follows:

(35 ILCS 5/232 new)

Sec. 232. Volunteer firefighters and volunteer EMS providers.

(a) For taxable years beginning on or after January 1, 2022, each individual who serves as a volunteer firefighter or a volunteer EMS provider during the taxable year is entitled to a credit against the taxes imposed by subsections (a) and (b) of Section 201 in an amount equal to $500.

(b) In no event shall a credit under this Section reduce a taxpayer's liability to less than zero. If the amount of credit exceeds the tax liability for the year, the excess may be carried forward and applied to the tax liability for the 5 taxable years following the excess credit year. The tax credit shall be applied to the earliest year for which there is a tax liability. If there are credits for more than one year that are available to offset liability, the earlier credit shall be applied first.

(c) As used in this Section:

"Volunteer EMS provider" has the meaning given to that term in Section 1-220 of the Illinois Vehicle Code.

"Volunteer firefighter" means a firefighter who does not receive monetary compensation for his or her services to a municipality, county, or fire protection district.

(d) This Section is exempt from the provisions of Section 250.

Section 99. Effective date. This Act takes effect upon becoming law.