Rep. Barbara Flynn Currie
Filed: 3/9/2017
 
 

 

 

 
10000HB2350ham001LRB100 10308 HLH 23234 a



1
AMENDMENT TO HOUSE BILL 2350 




2    AMENDMENT NO. ______. Amend House Bill 2350 by replacing 
3everything after the enacting clause with the following:


 
 
4    "Section 5. The Illinois Income Tax Act is amended  by 
5adding Section 224 as follows:
 
6    (35 ILCS 5/224 new)
7    Sec. 224. Federal child tax credit.  For taxable years 
8beginning on or after January 1, 2017 and beginning prior to 
9January 1, 2022, with respect to the federal child tax credit 
10allowed for the taxable year under Section 24 of the federal 
11Internal Revenue Code, 26 U.S.C. 24, each individual taxpayer 
12is entitled to a credit against the tax imposed by subsections 
13(a) and (b) of Section 201 in an amount equal to 20% of the 
14federal tax credit.
15    For a non-resident or part-year resident, the amount of the 
16credit under this Section shall be in proportion to the amount 
 
 
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1of income attributable to this State. 
2    If the amount of the credit exceeds the income tax 
3liability for the applicable tax year, then the excess credit 
4shall be refunded to the taxpayer. The amount of a refund shall 
5not be included in the taxpayer's income or resources for the 
6purposes of determining eligibility or benefit level in any 
7means-tested benefit program administered by a governmental 
8entity unless required by federal law. 
 
 
9    Section 99. Effective date. This Act takes effect upon 
10becoming law.".