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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1554
Introduced 2/18/2009, by Sen. John J. Millner SYNOPSIS AS INTRODUCED:
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Amends the Illinois Income Tax Act. Creates a credit in an amount equal to all amounts paid by the taxpayer on behalf of the taxpayer's employees for the purpose of learning a second language. Provides that the credit is exempt from the Act's sunset provisions. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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SB1554 |
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LRB096 10886 HLH 21123 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Income Tax Act is amended by adding |
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| Section 218 as follows:
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| (35 ILCS 5/218 new) |
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| Sec. 218. Language training credit. |
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| (a) For taxable years ending on or after December 31, 2009, |
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| each taxpayer is allowed a credit against the tax imposed by |
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| subsections (a) and (b) of Section 201 in an amount equal to |
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| all amounts paid by the taxpayer on behalf of the taxpayer's |
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| employees for the purpose of learning a second language, |
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| including, but not limited to, English as a second language. |
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| For partners, shareholders of subchapter S corporations, and |
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| owners of limited liability companies, if the liability company |
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| is treated as a partnership for purposes of federal and State |
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| income taxation, there shall be allowed a credit under this |
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| subsection (j) to be determined in accordance with the |
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| determination of income and distributive share of income under |
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| Sections 702 and 704 and subchapter S of the Internal Revenue |
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| Code. |
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| (b) Any credit allowed under this subsection which is |
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| unused in the year the credit is earned may be carried forward |