Bill Text: IL SB1484 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates a child tax credit in an amount equal to 10% of the federal tax credit allowed under Section 24 of the federal Internal Revenue Code. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB1484 Detail]

Download: Illinois-2019-SB1484-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB1484 Introduced 2/13/2019, by Sen. Kimberly A. Lightford SYNOPSIS AS INTRODUCED:
35 ILCS 5/229 new
Amends the Illinois Income Tax Act. Creates a child tax credit in an amount equal to 10% of the federal tax credit allowed under Section 24 of the federal Internal Revenue Code. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by adding
Section 229 as follows:
(35 ILCS 5/229 new)
Sec. 229. Federal child tax credit. For taxable years
beginning on or after January 1, 2019 and beginning prior to
January 1, 2024, with respect to the federal child tax credit
allowed for the taxable year under Section 24 of the federal
Internal Revenue Code, 26 U.S.C. 24, each individual taxpayer
is entitled to a credit against the tax imposed by subsections
(a) and (b) of Section 201 in an amount equal to 10% of the
federal tax credit.
For a non-resident or part-year resident, the amount of the
credit under this Section shall be in proportion to the amount
of income attributable to this State.
If the amount of the credit exceeds the income tax
liability for the applicable tax year, then the excess credit
shall be refunded to the taxpayer. The amount of a refund shall
not be included in the taxpayer's income or resources for the
purposes of determining eligibility or benefit level in any
means-tested benefit program administered by a governmental

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entity unless required by federal law.
Section 99. Effective date. This Act takes effect upon
becoming law.