91st General Assembly
Summary of HB3348
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House Sponsors:
LOPEZ-ACEVEDO-BRADLEY-CROTTY AND DAVIS,MONIQUE.

Short description: 
INC TAX CREDT-EMPLOYEE DAYCARE                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that,  for  taxable      
   years 2000 through 2004, each corporation is entitled to an income tax      
   credit in an amount equal to (i) 15% of the amount expended in the tax      
   year  for  which  the credit is claimed  by the corporation to provide      
   day care for the children of  employees  of  the  corporation  on  the      
   premises  of  the  employee's  workplace  and  (ii)  10% of the amount      
   expended in the tax year for  which  the  credit  is  claimed  by  the      
   corporation  to  provide  child care locator services for employees of      
   the corporation.  Provides that (i) the tax credit may not reduce  the      
   corporation's tax liability to less than zero and (ii)  any excess may      
   be  carried  forward and applied to the tax liability of the 2 taxable      
   years following the excess credit year.  Effective immediately.             
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status