Senate Sponsors: KARPIEL-MADIGAN,L-PARKER-JONES,W-CLAYBORNE, SULLIVAN, SMITH, VIVERITO, SILVERSTEIN, GEO-KARIS, RONEN,C, LINK AND WALSH,L. House Sponsors: PANKAU-O'BRIEN-COULSON-FEIGENHOLTZ-GRANBERG Short description: INCOME TX-DAY CARE CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that for taxable years 1999 through 2003, a tax credit is granted to corporate taxpayers for 10% of the cost of day care provided to the employees at the place of employment. Allows an excess tax credit to be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 5/211 new Adds reference to: 35 ILCS 5/210.5 new Deletes everything. Amends the Illinois Income Tax Act. Provides that each corporate taxpayer is entitled to an income tax credit in an amount equal to (i) for taxable years ending on or after December 31, 2000 and on or before December 31, 2004, 30% of the start-up costs expended by the corporate taxpayer to provide a child care facility for the children of its employees and (ii) for taxable years ending on or after December 31, 2000, 5% of the annual amount paid by the corporate taxpayer in providing the child care facility for the children of its employees. Exempts the 5% credit from the sunset provisions of the Act. Provides that if the 5% credit authorized under this Section is claimed, the 5% dependent care assistance program tax credit cannot also be claimed. Provides that a corporate taxpayer may provide and operate a child care facility independently or in partnership with other corporations. Allows an excess tax credit to be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Effective immediately. GOVERNOR'S AMENDATORY VETO MESSAGE Recommends that a provision be added, limiting the term "child care facility" to child care facilities located in Illinois. Last action on Bill: PUBLIC ACT.............................. 91-0930 Last action date: 00-12-15 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status