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92_HB4313
LRB9214688SMcs
1 AN ACT concerning senior citizens and disabled persons.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Senior Citizens and Disabled Persons
5 Property Tax Relief and Pharmaceutical Assistance Act is
6 amended by changing Section 3.07 as follows:
7 (320 ILCS 25/3.07) (from Ch. 67 1/2, par. 403.07)
8 Sec. 3.07. For grant years 2002 and before, "income"
9 means adjusted gross income, properly reportable for federal
10 income tax purposes under the provisions of the Internal
11 Revenue Code, modified by adding thereto the sum of the
12 following amounts to the extent deducted or excluded from
13 gross income in the computation of adjusted gross income:
14 (A) An amount equal to all amounts paid or accrued
15 as interest or dividends during the taxable year;
16 (B) An amount equal to the amount of tax imposed by
17 the Illinois Income Tax Act paid for the taxable year;
18 (C) An amount equal to all amounts received during
19 the taxable year as an annuity under an annuity,
20 endowment or life insurance contract or under any other
21 contract or agreement;
22 (D) An amount equal to the amount of benefits paid
23 under the Federal Social Security Act during the taxable
24 year;
25 (E) An amount equal to the amount of benefits paid
26 under the Railroad Retirement Act during the taxable
27 year;
28 (F) An amount equal to the total amount of cash
29 public assistance payments received from any governmental
30 agency during the taxable year other than benefits
31 received pursuant to this Act;
-2- LRB9214688SMcs
1 (G) An amount equal to any net operating loss
2 carryover deduction or capital loss carryover deduction
3 during the taxable year;
4 (H) For claim years beginning on or after January
5 1, 2002, an amount equal to any benefits received under
6 the Workers' Compensation Act or the Workers'
7 Occupational Diseases Act during the taxable year.
8 "Income" does not include any grant assistance received
9 under the Nursing Home Grant Assistance Act or any
10 distributions or items of income described under subparagraph
11 (X) of paragraph (2) of subsection (a) of Section 203 of the
12 Illinois Income Tax Act.
13 This amendatory Act of 1987 shall be effective for
14 purposes of this Section for tax years ending on or after
15 December 31, 1987.
16 For grant years 2003 and thereafter, "income" means
17 taxable income, properly reportable for federal income tax
18 purposes under the provisions of the Internal Revenue Code.
19 (Source: P.A. 91-676, eff. 12-23-99; 92-131, eff. 7-23-01;
20 92-519, eff. 1-1-02.)