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91_HB1655
LRB9105172PTmb
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. Child care facility and program Dependent care
9 assistance program tax credit.
10 (a) Beginning with tax years ending on or after June 30,
11 1995 and ending with tax years ending on or before December
12 30, 1999, each taxpayer who is primarily engaged in
13 manufacturing is entitled to a credit against the tax imposed
14 by subsections (a) and (b) of Section 201 in an amount equal
15 to 5% of the amount of expenditures by the taxpayer in the
16 tax year for which the credit is claimed, reported pursuant
17 to Section 129(d)(7) of the Internal Revenue Code, to provide
18 in the Illinois premises of the taxpayer's workplace an
19 on-site facility dependent care assistance program under
20 Section 129 of the Internal Revenue Code.
21 (a-5) Beginning with tax years ending on or after
22 December 31, 1999, each taxpayer is entitled to a credit
23 against the tax imposed by subsections (a) and (b) of Section
24 201 in an amount equal to 30% of the amount of expenditures
25 by the taxpayer for the benefit of the taxpayer's employees
26 during the tax year to provide an on-site child care facility
27 or an off-site child care program. The credit may not exceed
28 $50,000 for the taxable year. This subsection is exempt from
29 the provisions of Section 250.
30 (b) If the amount of credit exceeds the tax liability
31 for the year, the excess may be carried forward and applied
-2- LRB9105172PTmb
1 to the tax liability of the 2 taxable years following the
2 excess credit year. The credit shall be applied to the
3 earliest year for which there is a tax liability. If there
4 are credits from more than one tax year that are available to
5 offset a liability, the earlier credit shall be applied
6 first.
7 (c) A taxpayer claiming the credit provided by
8 subsection (a) this Section shall maintain and record such
9 information as the Department may require by regulation
10 regarding the dependent care assistance program for which
11 credit is claimed. When claiming the credit provided by
12 subsection (a) this Section, the taxpayer shall provide such
13 information regarding the taxpayer's provision of a dependent
14 care assistance program under Section 129 of the Internal
15 Revenue Code.
16 (d) A taxpayer claiming the credit provided in
17 subsection (a-5) shall maintain and record such information
18 as the Department may require by regulation regarding the
19 child care services for which this credit is claimed.
20 (Source: P.A. 88-505.)
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.