HB4080 - 104th General Assembly (2025-2026)

INC TX-CREDIT-SECURITY-JUDGES
Last Action
10/15/2025 - House: Referred to Rules Committee
Statutes Amended In Order of Appearance
35 ILCS 5/246 new  
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2026, a taxpayer who is an eligible member of the judiciary is allowed an income tax credit in an amount equal to the qualified security expenses incurred by the taxpayer during the taxable year. Specifies that the credit may not be carried back and may not reduce the taxpayer's liability to less than zero. Provides that, if the amount of the credit exceeds the taxpayer's tax liability for the taxable year, then the excess may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Requires the tax credit to be applied to the earliest year for which there is a tax liability. Provides that, if there are credits for more than one year that are available to offset a liability, the earlier credit shall be applied first. Defines the terms "eligible member of the judiciary", "federal judge", and "qualified security expense". Effective immediately.
Actions
DateChamberAction
7/02/2025HouseFiled with the Clerk by Rep. Marcus C. Evans, Jr.
10/15/2025HouseFirst Reading
10/15/2025HouseReferred to Rules Committee