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91_HB2832
LRB9104694PTpk
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 215.
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 adding Section 215 as follows:
7 (35 ILCS 5/215 new)
8 Sec. 215. State child care facility tax credit.
9 Beginning with taxable years ending on or after December 31,
10 1999 and ending with taxable years ending on or before
11 December 31, 2008, each taxpayer with an adjusted gross
12 income of $50,000 or less subject to this Act is entitled to
13 a tax credit in an amount equal to 10% of the credit received
14 by the taxpayer for the same taxable year under Section 129
15 of the Internal Revenue Code of 1986 for expenditures made
16 during the taxable year by the taxpayer for the care of a
17 child in a State certified day care or child care facility.
18 In no event shall a credit under this Section reduce a
19 taxpayer's tax liability to less than zero.
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.