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91_HB0166
LRB9100228PTbd
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Tax credit for on-site employee day care. For
9 taxable year 1999 and thereafter, each taxpayer who employs
10 at least 5 persons is entitled to a credit against the tax
11 imposed by subsections (a) and (b) of Section 201 in an
12 amount equal to 10% of the amount expended by the employer to
13 provide day care for the children of employees on the
14 premises of the employees' workplace. The tax credit may not
15 reduce the taxpayer's liability to less than zero. If the
16 amount of the tax credit exceeds the tax liability for the
17 year, the excess may be carried forward and applied to the
18 tax liability of the 2 taxable years following the excess
19 credit year. The credit shall be applied to the earliest
20 year for which there is a tax liability. If there are
21 credits from more than one tax year that are available to
22 offset a liability, then the earlier credit shall be applied
23 first. This Section is exempt from the provisions of Section
24 250.
25 Section 99. Effective date. This Act takes effect upon
26 becoming law.