[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_HB1886
LRB9103423SMfg
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 child care locator services.
9 For taxable year 1999 and thereafter, each taxpayer who
10 employs at least 5 persons is entitled to a credit against
11 the tax imposed by subsections (a) and (b) of Section 201 in
12 an amount equal to 10% of the amount expended by the employer
13 to provide child care locator services for employees. The
14 tax credit may not reduce the taxpayer's liability to less
15 than zero.
16 If the amount of the tax credit exceeds the tax liability
17 for the year, the excess may be carried forward and applied
18 to the tax liability of the 2 taxable years following the
19 excess credit year. The credit shall be applied to the
20 earliest year for which there is a tax liability. If there
21 are credits from more than one tax year that are available to
22 offset a liability, then the earlier credit shall be applied
23 first.
24 This Section is exempt from the provisions of Section
25 250.
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.