HB4192 96TH GENERAL ASSEMBLY

LRB096 08873 RCE 19008 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB4192

Introduced 2/27/2009, by Rep. Ronald A. Wait

SYNOPSIS AS INTRODUCED:

35 ILCS 5/218 new

Amends the Illinois Income Tax Act. Authorizes a credit to each individual taxpayer for qualified child and dependent care expenditures by the taxpayer during the taxable year, but not to exceed $1,000 per year, incurred while the taxpayer is a member of the United States Armed Services, including the Illinois National Guard or any reserve component of the Armed Forces of the United States, and is mobilized to active duty and deployed outside Illinois. "Qualified child and dependent care expenditures" are defined as those that qualify under the Child and Dependent Care Tax Credit under the federal Internal Revenue Code. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Income Tax Act is amended by adding Section 218 as follows:

(35 ILCS 5/218 new)

Sec. 218. Credit for military child and dependent care.

(a) For each taxable year ending on or after December 31, 2009, each individual taxpayer is entitled to a credit against the tax imposed by subsections (a) and (b) of Section 201 of this Act for qualified child and dependent care expenditures by the taxpayer during the taxable year, but not to exceed $1,000 per year, incurred while the taxpayer is a member of the United States Armed Services, including the Illinois National Guard or any reserve component of the Armed Forces of the United States, and is mobilized to active duty and deployed outside Illinois. "Qualified child and dependent care expenditures" are those that qualify under the Child and Dependent Care Tax Credit under the federal Internal Revenue Code.

(b) In no event shall a credit under this Section reduce the taxpayer's liability to less than zero. If the amount of the credit exceeds the tax liability for the year, the excess may not be carried back or carried forward.

(c) This Section is exempt from the provisions of Section 250.

Section 99. Effective date. This Act takes effect upon becoming law.