Illinois 2023-2024 Regular Session

Illinois House Bill HB2859 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 HB2859 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED: 35 ILCS 5/217 Amends the Illinois Income Tax Act. Provides that the credit for wages paid to qualified veterans also extends to wages paid to a qualified veteran's spouse. Provides that active duty members of the United States Armed Forces are also considered "qualified veterans". Effective immediately. LRB103 25765 HLH 52114 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2859 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED: 35 ILCS 5/217 35 ILCS 5/217 Amends the Illinois Income Tax Act. Provides that the credit for wages paid to qualified veterans also extends to wages paid to a qualified veteran's spouse. Provides that active duty members of the United States Armed Forces are also considered "qualified veterans". Effective immediately. LRB103 25765 HLH 52114 b LRB103 25765 HLH 52114 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2859 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/217 35 ILCS 5/217
4	4	35 ILCS 5/217
5	5	Amends the Illinois Income Tax Act. Provides that the credit for wages paid to qualified veterans also extends to wages paid to a qualified veteran's spouse. Provides that active duty members of the United States Armed Forces are also considered "qualified veterans". Effective immediately.
6	6	LRB103 25765 HLH 52114 b LRB103 25765 HLH 52114 b
7	7	LRB103 25765 HLH 52114 b
8	8	A BILL FOR
9	9	HB2859LRB103 25765 HLH 52114 b HB2859 LRB103 25765 HLH 52114 b
10	10	HB2859 LRB103 25765 HLH 52114 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 changing Section 217 as follows:
16	16	6 (35 ILCS 5/217)
17	17	7 Sec. 217. Credit for wages paid to qualified veterans and
18	18	8 spouses of qualified veterans.
19	19	9 (a) For each taxable year beginning on or after January 1,
20	20	10 2007 and ending on or before December 30, 2010, each taxpayer
21	21	11 is entitled to a credit against the tax imposed by subsections
22	22	12 (a) and (b) of Section 201 of this Act in an amount equal to
23	23	13 5%, but in no event to exceed $600, of the gross wages paid by
24	24	14 the taxpayer to a qualified veteran in the course of that
25	25	15 veteran's sustained employment during the taxable year. For
26	26	16 each taxable year that begins beginning on or after January 1,
27	27	17 2010 and begins prior to January 1, 2024, each taxpayer is
28	28	18 entitled to a credit against the tax imposed by subsections
29	29	19 (a) and (b) of Section 201 of this Act in an amount equal to
30	30	20 10%, but in no event to exceed $1,200, of the gross wages paid
31	31	21 by the taxpayer to a qualified veteran in the course of that
32	32	22 veteran's sustained employment during the taxable year. For
33	33	23 each taxable year that begins on or after January 1, 2024 and
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2859 Introduced , by Rep. Katie Stuart SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/217 35 ILCS 5/217
39	39	35 ILCS 5/217
40	40	Amends the Illinois Income Tax Act. Provides that the credit for wages paid to qualified veterans also extends to wages paid to a qualified veteran's spouse. Provides that active duty members of the United States Armed Forces are also considered "qualified veterans". Effective immediately.
41	41	LRB103 25765 HLH 52114 b LRB103 25765 HLH 52114 b
42	42	LRB103 25765 HLH 52114 b
43	43	A BILL FOR
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49	49	35 ILCS 5/217
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68	68	1 begins prior to January 1, 2029, each taxpayer is entitled to a
69	69	2 credit against the tax imposed by subsections (a) and (b) of
70	70	3 Section 201 of this Act in an amount equal to 10%, but in no
71	71	4 event to exceed $1,200, of the gross wages paid by the taxpayer
72	72	5 to a qualified veteran or the spouse of a qualified veteran in
73	73	6 the course of that veteran's or spouse's sustained employment
74	74	7 during the taxable year. For partners, shareholders of
75	75	8 Subchapter S corporations, and owners of limited liability
76	76	9 companies, if the liability company is treated as a
77	77	10 partnership for purposes of federal and State income taxation,
78	78	11 there shall be allowed a credit under this Section to be
79	79	12 determined in accordance with the determination of income and
80	80	13 distributive share of income under Sections 702 and 704 and
81	81	14 Subchapter S of the Internal Revenue Code.
82	82	15 (b) For purposes of this Section:
83	83	16 "Active duty member of the United States Armed Forces"
84	84	17 means a member of the Armed Services or Reserve Forces of the
85	85	18 United States or a member of the Illinois National Guard who is
86	86	19 called to active duty pursuant to an executive order of the
87	87	20 President of the United States, an act of the Congress of the
88	88	21 United States, or an order of the Governor.
89	89	22 "Qualified veteran" means an Illinois resident who is an
90	90	23 active duty member of the United States Armed Forces or who
91	91	24 meets the following criteria: (i) the person was a member of
92	92	25 the Armed Forces of the United States, a member of the Illinois
93	93	26 National Guard, or a member of any reserve component of the
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104	104	1 Armed Forces of the United States; (ii) the person served on
105	105	2 active duty in connection with Operation Desert Storm,
106	106	3 Operation Enduring Freedom, or Operation Iraqi Freedom; (iii)
107	107	4 the person has provided, to the taxpayer, documentation
108	108	5 showing that he or she was honorably discharged; and (iv) the
109	109	6 person was initially hired by the taxpayer on or after January
110	110	7 1, 2007.
111	111	8 "Sustained employment" means a period of employment that
112	112	9 is not less than 185 days during the taxable year.
113	113	10 (c) In no event shall a credit under this Section reduce
114	114	11 the taxpayer's liability to less than zero. If the amount of
115	115	12 the credit exceeds the tax liability for the year, the excess
116	116	13 may be carried forward and applied to the tax liability of the
117	117	14 5 taxable years following the excess credit year. The tax
118	118	15 credit shall be applied to the earliest year for which there is
119	119	16 a tax liability. If there are credits for more than one year
120	120	17 that are available to offset a liability, the earlier credit
121	121	18 shall be applied first.
122	122	19 (d) A taxpayer who claims a credit under this Section for a
123	123	20 taxable year with respect to a veteran shall not be allowed a
124	124	21 credit under Section 217.1 of this Act with respect to the same
125	125	22 veteran for that taxable year.
126	126	23 (Source: P.A. 96-101, eff. 1-1-10; 97-767, eff. 7-9-12.)
127	127	24 Section 99. Effective date. This Act takes effect upon
128	128	25 becoming law.
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134	134	HB2859 - 3 - LRB103 25765 HLH 52114 b