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92_SB0296
LRB9207588SMdv
1 AN ACT in relation to taxes.
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. Corporate-sponsored blood drive tax credit.
8 Beginning with taxable years ending on or after December 31,
9 2001 and ending with taxable years ending on or before
10 December 30, 2006, each corporate taxpayer that sponsors an
11 on-site blood drive during the taxable year is entitled to a
12 credit against the tax imposed by subsections (a) and (b) of
13 Section 201. The credit is equal to $10 per employee of the
14 corporation who donates blood at the corporate-sponsored
15 on-site blood drive held during the taxable year. The
16 corporation is allowed to claim only one $10 credit per each
17 individual employee per taxable year. The tax credit may not
18 reduce the taxpayer's liability to less than zero. The
19 credit may not be carried forward.
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.