[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
92_HB2272
LRB9204847SMdv
1 AN ACT concerning taxation.
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 adding Section 213 as follows:
6 (35 ILCS 5/213 new)
7 Sec. 213. Teacher credit.
8 (a) As used in this Section, "teacher" means a person
9 holding a teaching certificate issued under Article 21 of the
10 School Code and who is employed by a public or private
11 elementary or secondary school in this State, including those
12 providing vocational and technical instruction.
13 (b) For tax years ending on or after December 31, 2001,
14 each taxpayer who is a teacher is allowed a credit against
15 the tax imposed under subsections (a) and (b) of Section 201
16 in the following amounts: $500 if the teacher has completed
17 at least 2 but less than 5 years of teaching by the end of
18 the taxable year, $750 if the teacher has completed at least
19 5 but less than 10 years of teaching by the end of the
20 taxable year, $1,000 if the teacher has completed at least 10
21 but less than 15 years of teaching by the end of the taxable
22 year, and $1,500 if the teacher has completed at least 15
23 years of teaching by the end of the taxable year. The
24 credit, however, may not exceed 50% of the amount of tax
25 owing on the taxable amount of the salary of the teacher less
26 the amount of the exemption claimed by the teacher and may
27 not reduce the taxpayer's liability to less than zero.
28 (c) This Section is exempt from the provisions of
29 Section 250.