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90_HB0095
35 ILCS 5/211 new
Amends the Illinois Income Tax Act to create a tax credit
for corporations in the amount of 25% of amounts expended
during the taxable year on an Adopt-a-Public School Program.
Defines the elements of the program. Applies to tax years
ending on or after December 31, 1997. Sunsets the credit
after 10 years. Effective immediately.
LRB9000768KDpkA
LRB9000768KDpkA
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Adopt-a-Public School Program credit.
9 (a) Beginning with tax years ending on or after December
10 31, 1997, and ending with tax years ending on or before
11 December 31, 2006, each corporation subject to this Act is
12 entitled to a credit against the tax imposed by subsections
13 (a) and (b) of Section 201 in an amount equal to 25% of the
14 amount expended by the corporation during the tax year on an
15 Adopt-a-Public School Program. For purposes of this Section,
16 "Adopt-a-Public School Program" means a program for a
17 particular public school through which a corporation does one
18 or more of the following:
19 (1) Sponsors school activities, seminars, and
20 functions.
21 (2) Establishes school-business employment programs.
22 (3) Sends employees of the corporation to the
23 school for presentations and seminars.
24 (4) Donates property or equipment to the school.
25 (5) Implements programs to encourage school
26 dropouts to reenter and complete high school or to
27 complete a graduate equivalency degree program.
28 (6) Develops and implements employment programs.
29 These programs shall initially, but not exclusively,
30 target unemployed youth living in poverty and youth
31 living in areas with a high incidence of crime.
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1 (7) Develop, implement, expand, and administer new
2 or existing youth clubs or associations which shall
3 provide ongoing programs emphasizing alternatives to
4 illegal gang activity and provide a sense of belonging to
5 a cohesive social group.
6 (8) Establish mentor and role model programs in
7 which employers grant time off of work for participation
8 by employees in youth opportunity and violence prevention
9 activities.
10 (9) Develop, establish, implement, expand, or
11 participate in drug and alcohol abuse prevention training
12 programs for youth.
13 (10) Donate property, services, or equipment to
14 schools, municipalities, or nonprofit organizations that
15 offer programs dedicated to youth violence prevention.
16 (11) Develop, establish, expand, and operate not
17 for profit or public youth activity centers.
18 (12) Develop, establish, expand, and operate
19 nonviolent conflict resolution and mediation programs.
20 (13) Encourage youth participation in meaningful
21 volunteer and employment opportunities.
22 (14) Establish youth outreach and counseling
23 programs.
24 In order to qualify for the credit under this Section, a
25 corporation shall (i) apply to and receive approval for the
26 program from the school board in whose district the program
27 is located and (ii) upon receiving approval from the local
28 school board, apply to and receive approval for the program
29 from the State Board of Education. The State Board of
30 Education shall certify to the Department all corporations
31 that have received approval under this Section.
32 (b) If the amount of credit exceeds the tax liability
33 for the year, the excess may be carried forward and applied
34 to the tax liability of the 5 taxable years following the
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1 excess credit year. The credit shall be applied to the
2 earliest year for which there is a tax liability. If there
3 are credits from more than one tax year that are available to
4 offset a liability, the earlier credit shall be applied
5 first.
6 Section 99. Effective date. This Act takes effect upon
7 becoming law.