Bill Text: IL HB5122 | 2023-2024 | 103rd General Assembly | Introduced


Bill Title: 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.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB5122 Detail]

Download: Illinois-2023-HB5122-Introduced.html

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.
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A BILL FOR

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1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Income Tax Act is amended by
5adding Section 241 as follows:
6 (35 ILCS 5/241 new)
7 Sec. 241. First responder tax credit.
8 (a) For taxable years beginning on or after January 1,
92024 and beginning prior to January 1, 2029, each individual
10who serves as a full-time police officer, firefighter, or
11rescue worker during the taxable year is entitled to a credit
12against the taxes imposed by subsections (a) and (b) of
13Section 201 in the amount of $500.
14 (b) A credit under this Section may not reduce a
15taxpayer's liability to less than zero. If the amount of the
16credit exceeds the tax liability for the year, the excess may
17be carried forward and applied to the tax liability of the 5
18taxable years following the excess credit year. The tax credit
19shall be applied to the earliest year for which there is a tax
20liability. If there are credits for more than one year that are
21available to offset the liability, the earlier credit shall be
22applied first.
23 (c) The Department may adopt rules for the implementation

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1of the credit under this Section.
2 (d) As used in this Section:
3 "Firefighter" has the same meaning as "fireman" in
4subsection (b) of Section 2 of the Line of Duty Compensation
5Act.
6 "Police officer" has the same meaning as "law enforcement
7officer" in subsection (a) of Section 2 of the Line of Duty
8Compensation Act.
9 "Rescue worker" means a person who is licensed under the
10Emergency Medical Services (EMS) Systems Act as an Emergency
11Medical Responder (EMR) (First Responder), Emergency Medical
12Technician (EMT), Emergency Medical Technician-Intermediate
13(EMT-I), Advanced Emergency Medical Responder (A-EMT), or
14Paramedic (EMT-P).
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