§ 3.07. Income. “Income” means adjusted gross income, properly reportable for federal income tax purposes
under the provisions of the Internal Revenue Code, 1 modified by adding thereto the sum of the following amounts to the extent deducted
or excluded from gross income in the computation of adjusted gross income:
(A) An amount equal to all amounts paid or accrued as interest or dividends during
the taxable year;
(B) An amount equal to the amount of tax imposed by the Illinois Income Tax Act 2 paid for the taxable year;
(C) An amount equal to all amounts received during the taxable year as an annuity
under an annuity, endowment or life insurance contract or under any other contract
(D) An amount equal to the amount of benefits paid under the Federal Social Security
Act 3 during the taxable year;
(E) An amount equal to the amount of benefits paid under the Railroad Retirement Act
4 during the taxable year;
(F) An amount equal to the total amount of cash public assistance payments received
from any governmental agency during the taxable year other than benefits received
pursuant to this Act;
(G) An amount equal to any net operating loss carryover deduction or capital loss
carryover deduction during the taxable year; and
(H) An amount equal to any benefits received under the Workers' Compensation Act
5 or the Workers' Occupational Diseases Act 6 during the taxable year.
“Income” does not include any distributions or items of income described under subparagraph
(X) of paragraph (2) of subsection (a) of Section 203 of the Illinois Income Tax Act
7 or any payments under Section 2201 or Section 2202 of the American Recovery and Reinvestment
Act of 2009. 8
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