Illinois 2023-2024 Regular Session

Illinois House Bill HB2511 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 HB2511 Introduced , by Rep. Jenn Ladisch Douglass SYNOPSIS AS INTRODUCED: 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $250 for taxpayers who (i) adopt an animal from a no kill animal shelter and (ii) retain ownership of the animal for a period of 6 consecutive months during the taxable year. Effective immediately. LRB103 27001 HLH 53368 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2511 Introduced , by Rep. Jenn Ladisch Douglass SYNOPSIS AS INTRODUCED: 35 ILCS 5/234 new 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $250 for taxpayers who (i) adopt an animal from a no kill animal shelter and (ii) retain ownership of the animal for a period of 6 consecutive months during the taxable year. Effective immediately. LRB103 27001 HLH 53368 b LRB103 27001 HLH 53368 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2511 Introduced , by Rep. Jenn Ladisch Douglass 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 in the amount of $250 for taxpayers who (i) adopt an animal from a no kill animal shelter and (ii) retain ownership of the animal for a period of 6 consecutive months during the taxable year. Effective immediately.
6	6	LRB103 27001 HLH 53368 b LRB103 27001 HLH 53368 b
7	7	LRB103 27001 HLH 53368 b
8	8	A BILL FOR
9	9	HB2511LRB103 27001 HLH 53368 b HB2511 LRB103 27001 HLH 53368 b
10	10	HB2511 LRB103 27001 HLH 53368 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. Pet adoption credit.
18	18	8 (a) For taxable years beginning on or after January 1,
19	19	9 2023, a taxpayer who (i) adopts an animal from a no kill animal
20	20	10 shelter and (ii) retains ownership of the animal for a period
21	21	11 of 6 consecutive months during the taxable year is entitled to
22	22	12 a credit against the tax imposed by subsections (a) and (b) of
23	23	13 Section 201 in the amount of $250. As used in this Section, "no
24	24	14 kill animal shelter" means an animal shelter where fewer than
25	25	15 10% of the animals received were euthanized in the previous
26	26	16 calendar year.
27	27	17 (b) If the amount of the credit exceeds the tax liability
28	28	18 for the year, the excess may be carried forward and applied to
29	29	19 the tax liability of the 5 tax years following the excess
30	30	20 credit year. The tax credit award shall be applied to the
31	31	21 earliest year for which there is a tax liability. If there are
32	32	22 credits from more than one tax year that are available to
33	33	23 offset liability, the earlier credit shall be applied first.
34	34
35	35
36	36
37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2511 Introduced , by Rep. Jenn Ladisch Douglass 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 in the amount of $250 for taxpayers who (i) adopt an animal from a no kill animal shelter and (ii) retain ownership of the animal for a period of 6 consecutive months during the taxable year. Effective immediately.
41	41	LRB103 27001 HLH 53368 b LRB103 27001 HLH 53368 b
42	42	LRB103 27001 HLH 53368 b
43	43	A BILL FOR
44	44
45	45
46	46
47	47
48	48
49	49	35 ILCS 5/234 new
50	50
51	51
52	52
53	53	LRB103 27001 HLH 53368 b
54	54
55	55
56	56
57	57
58	58
59	59
60	60
61	61
62	62
63	63	HB2511 LRB103 27001 HLH 53368 b
64	64
65	65
66	66	HB2511- 2 -LRB103 27001 HLH 53368 b HB2511 - 2 - LRB103 27001 HLH 53368 b
67	67	HB2511 - 2 - LRB103 27001 HLH 53368 b
68	68	1 In no event may a credit under this Section reduce the
69	69	2 taxpayer's liability to less than zero.
70	70	3 (c) This Section is exempt from the provisions of Section
71	71	4 250.
72	72	5 Section 99. Effective date. This Act takes effect upon
73	73	6 becoming law.
74	74
75	75
76	76
77	77
78	78
79	79	HB2511 - 2 - LRB103 27001 HLH 53368 b