State of Illinois
90th General Assembly
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90_HB3093

      35 ILCS 5/210
          Amends the Illinois Income Tax Act by making a  technical
      change   in   the   Section  concerning  the  dependent  care
      assistance program tax credit.
                                                     LRB9010590KDks
                                               LRB9010590KDks
 1        AN ACT to amend the Illinois Income Tax Act  by  changing
 2    Section 210.
 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    changing Section 210 as follows:
 7        (35 ILCS 5/210)
 8        Sec. 210. Dependent care assistance program tax credit.
 9        (a)  Beginning with tax years ending on or after June 30,
10    1995, each taxpayer who is primarily engaged in manufacturing
11    is   entitled   to  a  credit  against  the  tax  imposed  by
12    subsections (a) and (b) of Section 201 in an amount equal  to
13    5%  of  the amount of expenditures by the taxpayer in the tax
14    year for which the credit is claimed,  reported  pursuant  to
15    Section 129(d)(7) of the Internal Revenue Code, to provide in
16    the  Illinois premises of the taxpayer's workplace an on-site
17    facility dependent care assistance program under Section  129
18    of the Internal Revenue Code.
19        (b)  If  the  amount  of credit exceeds the tax liability
20    for the year, the excess may be carried forward  and  applied
21    to  the  tax  liability  of the 2 taxable years following the
22    excess credit year.  The  credit  shall  be  applied  to  the
23    earliest  year  for  which there is a tax liability. If there
24    are credits from more than one tax year that are available to
25    offset a liability,  the  earlier  credit  shall  be  applied
26    first.
27        (c)  A  taxpayer  claiming  the  credit  provided by this
28    Section shall maintain and record  such  information  as  the
29    Department  may require by regulation regarding the dependent
30    care assistance program for which  credit  is  claimed.  When
31    claiming  the  credit  provided by this Section, the taxpayer
                            -2-                LRB9010590KDks
 1    shall provide the such information regarding  the  taxpayer's
 2    provision  of  a  dependent  care  assistance  program  under
 3    Section 129 of the Internal Revenue Code.
 4    (Source: P.A. 88-505.)

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