Illinois 2023-2024 Regular Session

Illinois House Bill HB1350 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1350 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED: 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately. LRB103 25766 HLH 52115 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1350 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED: 35 ILCS 5/234 new 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately. LRB103 25766 HLH 52115 b LRB103 25766 HLH 52115 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1350 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/234 new 35 ILCS 5/234 new
4	4	35 ILCS 5/234 new
5	5	Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately.
6	6	LRB103 25766 HLH 52115 b LRB103 25766 HLH 52115 b
7	7	LRB103 25766 HLH 52115 b
8	8	A BILL FOR
9	9	HB1350LRB103 25766 HLH 52115 b HB1350 LRB103 25766 HLH 52115 b
10	10	HB1350 LRB103 25766 HLH 52115 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Income Tax Act is amended by
15	15	5 adding Section 234 as follows:
16	16	6 (35 ILCS 5/234 new)
17	17	7 Sec. 234. Caregiver credit.
18	18	8 (a) For taxable years ending on or after December 31,
19	19	9 2024, each taxpayer who is an eligible caregiver of a veteran
20	20	10 with a disability is entitled to a credit against the tax
21	21	11 imposed by subsections (a) and (b) of Section 201 in an amount
22	22	12 equal to 5% of the costs incurred in caring for the veteran,
23	23	13 not to exceed $1,000 in credits in any taxable year.
24	24	14 (b) In no event shall a credit under this Section reduce a
25	25	15 taxpayer's liability to less than zero. If the amount of
26	26	16 credit exceeds the tax liability for the year, the excess may
27	27	17 be carried forward and applied to the tax liability for the 5
28	28	18 taxable years following the excess credit year. The tax credit
29	29	19 shall be applied to the earliest year for which there is a tax
30	30	20 liability. If there are credits for more than one year that are
31	31	21 available to offset liability, the earlier credit shall be
32	32	22 applied first.
33	33	23 (c) As used in this Section:
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1350 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/234 new 35 ILCS 5/234 new
39	39	35 ILCS 5/234 new
40	40	Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are caregivers of a veteran with a disability. Provides that the credit shall be in an amount equal to 5% of the costs incurred in caring for the veteran, not to exceed $1,000 in credits in any taxable year. Effective immediately.
41	41	LRB103 25766 HLH 52115 b LRB103 25766 HLH 52115 b
42	42	LRB103 25766 HLH 52115 b
43	43	A BILL FOR
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49	49	35 ILCS 5/234 new
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66	66	HB1350- 2 -LRB103 25766 HLH 52115 b HB1350 - 2 - LRB103 25766 HLH 52115 b
67	67	HB1350 - 2 - LRB103 25766 HLH 52115 b
68	68	1 "Costs incurred" means expenditures for the following:
69	69	2 respite care; counseling or support groups; training related
70	70	3 to caring for a veteran with disability; travel related to
71	71	4 caring for the veteran; technology that assists in providing
72	72	5 care; and medical and hygiene items used by the veteran.
73	73	6 "Eligible caregiver" means a family member or paid worker
74	74	7 who provides care for a qualified veteran with a disability
75	75	8 and assists with performing the activities of daily life.
76	76	9 "Veteran" means an Illinois resident who has served as a
77	77	10 member of the United States Armed Forces on active duty or
78	78	11 State active duty, a member of the Illinois National Guard, or
79	79	12 a member of the United States Reserve Forces who has received
80	80	13 an honorable discharge.
81	81	14 "Veteran with a disability" means a veteran with a
82	82	15 service-connected disability, as certified by the United
83	83	16 States Department of Veterans Affairs.
84	84	17 (d) This Section is exempt from the provisions of Section
85	85	18 250.
86	86	19 Section 99. Effective date. This Act takes effect upon
87	87	20 becoming law.
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93	93	HB1350 - 2 - LRB103 25766 HLH 52115 b