IL SB1143

Amends the Illinois Income Tax Act to increase the maximum tax credit for instructional materials and supplies purchased by school employees from $250 to $300 for taxable years beginning on or after January 1, 2023.

Allows teachers, instructors, counselors, principals, and aides working at least 900 hours during a school year at qualified Illinois public or non-public schools to claim a credit for amounts spent on classroom instructional materials and supplies.

Credits that exceed the taxpayer's tax liability for the year may be carried forward and applied to the next 5 taxable years, with earlier credits applied first.

The credit cannot be carried back to prior years and cannot reduce tax liability below zero.

Effective immediately upon becoming law.