Illinois General Assembly - Full Text of SB0318
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Full Text of SB0318  99th General Assembly


Rep. Barbara Flynn Currie

Filed: 5/23/2016





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2    AMENDMENT NO. ______. Amend Senate Bill 318 by replacing
3everything after the enacting clause with the following:
4    "Section 5. The Illinois Income Tax Act is amended by
5changing Section 210.5 as follows:
6    (35 ILCS 5/210.5)
7    Sec. 210.5. Tax credit for employee child care.
8    (a) Each corporate taxpayer is entitled to a credit against
9the the tax imposed by subsections (a) and (b) of Section 201
10in an amount equal to (i) for taxable years ending on or after
11December 31, 2000 and on or before December 31, 2004 and for
12taxable years ending on or after December 31, 2007, 30% of the
13start-up costs expended by the corporate taxpayer to provide a
14child care facility for the children of its employees and (ii)
15for taxable years ending on or after December 31, 2000, 5% of
16the annual amount paid by the corporate taxpayer in providing



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1the child care facility for the children of its employees. The
2provisions of Section 250 do not apply to the credits allowed
3under this Section. If the 5% credit authorized under item (ii)
4of this subsection is claimed, the 5% credit authorized under
5Section 210 cannot also be claimed.
6    To receive the tax credit under this Section a corporate
7taxpayer may either independently provide and operate a child
8care facility for the children of its employees or it may join
9in a partnership with one or more other corporations to jointly
10provide and operate a child care facility for the children of
11employees of the corporations in the partnership.
12    (b) The tax credit may not reduce the taxpayer's liability
13to less than zero. If the amount of the tax credit exceeds the
14tax liability for the year, the excess may be carried forward
15and applied to the tax liability of the 5 taxable years
16following the excess credit year. The credit must be applied to
17the earliest year for which there is a tax liability. If there
18are credits from more than one tax year that are available to
19offset a liability, then the earlier credit must be applied
21    (c) As used in this Section, "start-up costs" means
22planning, site-preparation, construction, renovation, or
23acquisition of a child care facility. As used in this Section,
24"child care facility" is limited to a child care facility
25located in Illinois.
26    (d) A corporate taxpayer claiming the credit provided by



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1this Section shall maintain and record such information as the
2Department may require by rule regarding the child care
3facility for which the credit is claimed.
4(Source: P.A. 95-648, eff. 10-11-07.)".