HB3247 Summary

• Creates a tax deduction for veterinary clinics in Illinois equal to the fair market value of free spaying or neutering services provided to not-for-profit animal rescue or shelter organizations during the taxable year.

• Limits the deduction to a maximum of $2,500 per taxpayer annually for taxable years ending on or after December 31, 2017.

• Defines the value of spaying or neutering services as equal to the clinic's normal charges for those same services.

• Applies to all veterinary clinic taxpayer types including individuals, corporations, trusts, estates, and partnerships operating clinics in Illinois.

• Takes effect immediately upon becoming law.