| 1 | 1 | | 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5122 Introduced 2/8/2024, by Rep. Dan Ugaste - Amy L. Grant and Dave Severin SYNOPSIS AS INTRODUCED: 35 ILCS 5/241 new Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $500 for a taxpayer who serves as a full-time police officer, firefighter, or rescue worker during the taxable year. Effective immediately. LRB103 35898 HLH 65983 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5122 Introduced 2/8/2024, by Rep. Dan Ugaste - Amy L. Grant and Dave Severin 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 $500 for a taxpayer who serves as a full-time police officer, firefighter, or rescue worker during the taxable year. Effective immediately. LRB103 35898 HLH 65983 b LRB103 35898 HLH 65983 b A BILL FOR |
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| 2 | 2 | | 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5122 Introduced 2/8/2024, by Rep. Dan Ugaste - Amy L. Grant and Dave Severin SYNOPSIS AS INTRODUCED: |
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| 3 | 3 | | 35 ILCS 5/241 new 35 ILCS 5/241 new |
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| 4 | 4 | | 35 ILCS 5/241 new |
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| 5 | 5 | | Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $500 for a taxpayer who serves as a full-time police officer, firefighter, or rescue worker during the taxable year. Effective immediately. |
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| 6 | 6 | | LRB103 35898 HLH 65983 b LRB103 35898 HLH 65983 b |
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| 7 | 7 | | LRB103 35898 HLH 65983 b |
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| 8 | 8 | | A BILL FOR |
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| 9 | 9 | | HB5122LRB103 35898 HLH 65983 b HB5122 LRB103 35898 HLH 65983 b |
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| 10 | 10 | | HB5122 LRB103 35898 HLH 65983 b |
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| 11 | 11 | | 1 AN ACT concerning revenue. |
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| 12 | 12 | | 2 Be it enacted by the People of the State of Illinois, |
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| 13 | 13 | | 3 represented in the General Assembly: |
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| 14 | 14 | | 4 Section 5. The Illinois Income Tax Act is amended by |
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| 15 | 15 | | 5 adding Section 241 as follows: |
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| 16 | 16 | | 6 (35 ILCS 5/241 new) |
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| 17 | 17 | | 7 Sec. 241. First responder tax credit. |
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| 18 | 18 | | 8 (a) For taxable years beginning on or after January 1, |
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| 19 | 19 | | 9 2024 and beginning prior to January 1, 2029, each individual |
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| 20 | 20 | | 10 who serves as a full-time police officer, firefighter, or |
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| 21 | 21 | | 11 rescue worker during the taxable year is entitled to a credit |
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| 22 | 22 | | 12 against the taxes imposed by subsections (a) and (b) of |
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| 23 | 23 | | 13 Section 201 in the amount of $500. |
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| 24 | 24 | | 14 (b) A credit under this Section may not reduce a |
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| 25 | 25 | | 15 taxpayer's liability to less than zero. If the amount of the |
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| 26 | 26 | | 16 credit exceeds the tax liability for the year, the excess may |
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| 27 | 27 | | 17 be carried forward and applied to the tax liability of the 5 |
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| 28 | 28 | | 18 taxable years following the excess credit year. The tax credit |
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| 29 | 29 | | 19 shall be applied to the earliest year for which there is a tax |
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| 30 | 30 | | 20 liability. If there are credits for more than one year that are |
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| 31 | 31 | | 21 available to offset the liability, the earlier credit shall be |
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| 32 | 32 | | 22 applied first. |
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| 33 | 33 | | 23 (c) The Department may adopt rules for the implementation |
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| 36 | 36 | | |
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| 37 | 37 | | 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5122 Introduced 2/8/2024, by Rep. Dan Ugaste - Amy L. Grant and Dave Severin SYNOPSIS AS INTRODUCED: |
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| 38 | 38 | | 35 ILCS 5/241 new 35 ILCS 5/241 new |
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| 39 | 39 | | 35 ILCS 5/241 new |
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| 40 | 40 | | Amends the Illinois Income Tax Act. Creates an income tax credit in the amount of $500 for a taxpayer who serves as a full-time police officer, firefighter, or rescue worker during the taxable year. Effective immediately. |
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| 41 | 41 | | LRB103 35898 HLH 65983 b LRB103 35898 HLH 65983 b |
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| 42 | 42 | | LRB103 35898 HLH 65983 b |
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| 43 | 43 | | A BILL FOR |
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| 48 | 48 | | |
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| 49 | 49 | | 35 ILCS 5/241 new |
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| 53 | 53 | | LRB103 35898 HLH 65983 b |
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| 63 | 63 | | HB5122 LRB103 35898 HLH 65983 b |
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| 66 | 66 | | HB5122- 2 -LRB103 35898 HLH 65983 b HB5122 - 2 - LRB103 35898 HLH 65983 b |
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| 67 | 67 | | HB5122 - 2 - LRB103 35898 HLH 65983 b |
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| 68 | 68 | | 1 of the credit under this Section. |
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| 69 | 69 | | 2 (d) As used in this Section: |
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| 70 | 70 | | 3 "Firefighter" has the same meaning as "fireman" in |
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| 71 | 71 | | 4 subsection (b) of Section 2 of the Line of Duty Compensation |
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| 72 | 72 | | 5 Act. |
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| 73 | 73 | | 6 "Police officer" has the same meaning as "law enforcement |
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| 74 | 74 | | 7 officer" in subsection (a) of Section 2 of the Line of Duty |
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| 75 | 75 | | 8 Compensation Act. |
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| 76 | 76 | | 9 "Rescue worker" means a person who is licensed under the |
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| 77 | 77 | | 10 Emergency Medical Services (EMS) Systems Act as an Emergency |
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| 78 | 78 | | 11 Medical Responder (EMR) (First Responder), Emergency Medical |
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| 79 | 79 | | 12 Technician (EMT), Emergency Medical Technician-Intermediate |
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| 80 | 80 | | 13 (EMT-I), Advanced Emergency Medical Responder (A-EMT), or |
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| 81 | 81 | | 14 Paramedic (EMT-P). |
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| 87 | 87 | | HB5122 - 2 - LRB103 35898 HLH 65983 b |
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