State of Illinois
92nd General Assembly
Legislation

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92_HB0214ham001

 










                                           LRB9202490SMdvam01

 1                     AMENDMENT TO HOUSE BILL 214

 2        AMENDMENT NO.     .  Amend House Bill  214  by  replacing
 3    the title with the following:
 4        "AN ACT in relation to taxes."; and

 5    by  replacing  everything  after the enacting clause with the
 6    following:

 7        "Section 5.  The Illinois Income Tax Act  is  amended  by
 8    adding Section 213 as follows:

 9        (35 ILCS 5/213 new)
10        Sec.  213.   Medical  care expense tax credit.  Beginning
11    with taxable years ending on or after December 31, 2001, each
12    individual taxpayer is entitled to a credit against  the  tax
13    imposed  by  subsections  (a)  and  (b)  of Section 201 in an
14    amount equal to the  amount  allowed  as  a  deduction  under
15    Section  213  of  the  Internal Revenue Code for medical care
16    expenses, up to $500 in a taxable year.  The tax  credit  may
17    not  reduce  the  taxpayer's liability to less than zero.  If
18    the amount of the credit exceeds the tax  liability  for  the
19    year,  the  excess  may be carried forward and applied to the
20    tax liability of the 2 taxable  years  following  the  excess
21    credit  year.   The  credit  shall be applied to the earliest
 
                            -2-            LRB9202490SMdvam01
 1    year for which there  is  a  tax  liability.   If  there  are
 2    credits  from  more  than  one tax year that are available to
 3    offset a liability,  the  earlier  credit  shall  be  applied
 4    first.  This Section is exempt from the provisions of Section
 5    250.

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

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