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AN ACT TO AMEND THE ILLINOIS INCOME TAX ACT RELATING TO

THE UNIVERSAL CHARITABLE INCOME TAX CREDIT.

SYNOPSIS AS INTRODUCED:

35 ILCS 5/211.5
Amends the Illinois Income Tax Act by establishing Section 211.5 which creates a credit
against the income tax liability to permit taxpayers to direct a portion of their state
income tax liability to a qualifying charitable organization designated 501(c)(3) in the
Internal Revenue Code. Effective immediately.

FISCAL NOTE ACT MAY


APPLY

A BILL FOR

AN ACT concerning a universal income tax credit.


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 211.5 as
follows:

(35 ILCS 5/211.5)

Sec. 211.5. Universal Charitable Tax Credit

(a) Establishment. The Universal Charitable Tax Credit is created to permit


taxpayers to direct a portion of their state income tax liability to a

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AN ACT TO AMEND THE ILLINOIS INCOME TAX ACT RELATING TO
THE UNIVERSAL CHARITABLE INCOME TAX CREDIT.

qualifying charitable organization designated 501(c)(3) in the Internal


Revenue Code.

(b) A credit is allowed against the taxes imposed by this title for voluntary
cash contributions by the taxpayer or on the taxpayer's behalf during the
taxable year to a qualifying charitable organization not to exceed:
a. Five hundred dollars in any taxable year for a taxpayer who
files as: single individual, head of household or married filing
separately.
b. One thousand dollars in any taxable year for a married couple
filing a joint return.

(c) The credit allowed by this section is in lieu of a deduction pursuant to


section 170 of the internal revenue code and taken for state tax purposes.

(d) Taxpayers taking a credit authorized by this section shall provide the
name of the qualifying charitable organization and the amount of the
contribution to the department of revenue on forms provided by the
department.

(e) The department of revenue shall compile and make available to the
public a list of qualifying charitable organizations.

(f) For the purposes of this section:

a. "Qualifying charitable organization" means a charitable organization


that is exempt from federal income taxation under section 501(c)(3) of
the internal revenue code, and incorporated in the State of Illinois.
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AN ACT TO AMEND THE ILLINOIS INCOME TAX ACT RELATING TO
THE UNIVERSAL CHARITABLE INCOME TAX CREDIT.

b. Taxpayers choosing to make donations through an umbrella


charitable organization that collects donations on behalf of member
charities shall designate that the donation be directed to a member
charitable organization that would qualify under this section on a stand-
alone basis.

(g) Carryover.

a. The allowable tax credit shall be applied against the qualified tax
liability for the year in which it is claimed, but shall not exceed the total
liability of the taxpayer for that year.

b. A tax credit granted under this article shall not be carried back or
refunded.

c. Notwithstanding any other provision of law, the department of


revenue shall settle, assess or determine the tax of an applicant under
this subsection within 90 days of the filing of all required final returns or
reports in accordance with the Illinois Income Tax Act.

(h) Retroactivity.

This act applies retroactively to taxable years beginning from and after
December 31, 2016.

Section 99. Effective date. This Act takes effect upon becoming law.

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