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90_HB2408
35 ILCS 5/212 new
Amends the Illinois Income Tax Act. Provides that
beginning with tax years ending on or after December 31,
1997, a taxpayer that has previously filed one return under
this Act shall be entitled to a credit in the amount of one
percent, a taxpayer that has filed 2 previous returns under
this Act shall be entitled to a credit in the amount of 2%, a
taxpayer that has filed 3 previous returns under this Act
shall be entitled to a credit in the amount of 3%, a taxpayer
that has filed 4 previous returns under this Act shall be
entitled to a credit in the amount of 4%, and a taxpayer that
has filed 5 or more previous returns under this Act shall be
entitled to a credit of 5%. Exempts credit from the sunset
provisions. Effective immediately.
LRB9007764KDks
LRB9007764KDks
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 212.
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 212 as follows:
7 (35 ILCS 5/212 new)
8 Sec. 212. Tax credit; previous year returns. Beginning
9 with tax years ending on or after December 31, 1997, a
10 taxpayer who has previously filed a return under this Act
11 shall be entitled to a credit against the tax imposed by
12 subsections (a) and (b) of Section 201 in the following
13 amount:
14 (1) for a taxpayer who has filed one previous return
15 under this Act, 1%;
16 (2) for a taxpayer who has filed 2 previous returns
17 under this Act, 2%;
18 (3) for a taxpayer who has filed 3 previous returns
19 under this Act, 3%;
20 (4) for a taxpayer who has filed 4 previous returns
21 under this Act, 4%; and
22 (5) for a taxpayer who has filed 5 or more previous
23 returns under this Act, 5%.
24 The credit provided by this Section is exempt from the
25 provisions of Section 250 of this Act.
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.