103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4526 Introduced , by Rep. Jackie Haas SYNOPSIS AS INTRODUCED: 35 ILCS 5/241 new Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $5,000 for a taxpayer who is a qualified community care physician. Effective immediately. LRB103 36474 HLH 66577 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4526 Introduced , by Rep. Jackie Haas SYNOPSIS AS INTRODUCED: 35 ILCS 5/241 new 35 ILCS 5/241 new Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $5,000 for a taxpayer who is a qualified community care physician. Effective immediately. LRB103 36474 HLH 66577 b LRB103 36474 HLH 66577 b A BILL FOR
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4526 Introduced , by Rep. Jackie Haas SYNOPSIS AS INTRODUCED:
35 ILCS 5/241 new 35 ILCS 5/241 new
35 ILCS 5/241 new
Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $5,000 for a taxpayer who is a qualified community care physician. Effective immediately.
LRB103 36474 HLH 66577 b LRB103 36474 HLH 66577 b
LRB103 36474 HLH 66577 b
A BILL FOR
HB4526LRB103 36474 HLH 66577 b HB4526 LRB103 36474 HLH 66577 b
HB4526 LRB103 36474 HLH 66577 b
1 AN ACT concerning revenue.
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 241 as follows:
6 (35 ILCS 5/241 new)
7 Sec. 241. Community care providers credit.
8 (a) For taxable years beginning on or after January 1,
9 2025, an individual taxpayer who is a qualified community care
10 physician shall be allowed a credit against the tax imposed by
11 subsections (a) and (b) of Section 201 in the amount of $5,000.
12 (b) The credit or credits may not reduce the taxpayer's
13 liability to less than zero. If the amount of the tax credit
14 exceeds the taxpayer's liability for the year, the excess may
15 not be carried forward or carried back.
16 (c) As used in this Section:
17 "Good standing" means that the Illinois State Medical
18 Board has not taken any adverse disciplinary action against
19 the person at any time and that the person has had no more than
20 3 medical malpractice judgments or settlements in the 4 years
21 immediately preceding the taxable year in which the person is
22 seeking the credit.
23 "Qualified community care physician" means a person who is
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4526 Introduced , by Rep. Jackie Haas SYNOPSIS AS INTRODUCED:
35 ILCS 5/241 new 35 ILCS 5/241 new
35 ILCS 5/241 new
Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $5,000 for a taxpayer who is a qualified community care physician. Effective immediately.
LRB103 36474 HLH 66577 b LRB103 36474 HLH 66577 b
LRB103 36474 HLH 66577 b
A BILL FOR
35 ILCS 5/241 new
LRB103 36474 HLH 66577 b
HB4526 LRB103 36474 HLH 66577 b
HB4526- 2 -LRB103 36474 HLH 66577 b HB4526 - 2 - LRB103 36474 HLH 66577 b
HB4526 - 2 - LRB103 36474 HLH 66577 b
1 licensed to practice medicine in all of its branches under the
2 Medical Practice Act of 1987 and who:
3 (1) is in good standing;
4 (2) is certified by the United States Department of
5 Veterans Affairs as part of the community care network;
6 and
7 (3) provides health care services during the taxable
8 year to at least 5 patients who qualify for the Veterans
9 Community Care Program at the time the health care
10 services are rendered.
11 "Veterans Community Care Program" means the Community Care
12 Program operated by the United States Department of Veterans
13 Affairs.
14 (d) This Section is exempt from the provisions of Section
15 250.
HB4526 - 2 - LRB103 36474 HLH 66577 b