State of Illinois
91st General Assembly

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SB810 Re-enrolled                              LRB9106010PTgc

 1        AN ACT to amend the Illinois Income  Tax  Act  by  adding
 2    Section 210.5.

 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 210.5 as follows:

 7        (35 ILCS 5/210.5 new)
 8        Sec. 210.5.  Tax credit for employee child care.
 9        (a)  Each  corporate  taxpayer  is  entitled  to a credit
10    against the tax imposed by subsections (a) and (b) of Section
11    201 in an amount equal to (i) for taxable years ending on  or
12    after  December  31, 2000 and on or before December 31, 2004,
13    30% of the start-up costs expended by the corporate  taxpayer
14    to  provide  a  child  care  facility for the children of its
15    employees and (ii) for  taxable  years  ending  on  or  after
16    December  31,  2000,  5%  of  the  annual  amount paid by the
17    corporate taxpayer in providing the child care  facility  for
18    the children of its employees.  The provisions of Section 250
19    do  not  apply  to  the  5%  credit  under  item (ii) of this
20    subsection.  If the 5% credit authorized under item  (ii)  of
21    this  subsection  is  claimed, the 5% credit authorized under
22    Section 210 cannot also be claimed.
23        To receive the tax credit under this Section a  corporate
24    taxpayer may either independently provide and operate a child
25    care  facility  for  the  children of its employees or it may
26    join in a partnership with one or more other corporations  to
27    jointly  provide  and  operate  a child care facility for the
28    children of employees of the corporations in the partnership.
29        (b)  The  tax  credit  may  not  reduce  the   taxpayer's
30    liability to less than zero.  If the amount of the tax credit
31    exceeds  the  tax  liability  for the year, the excess may be
SB810 Re-enrolled              -2-             LRB9106010PTgc
 1    carried forward and applied to the tax  liability  of  the  5
 2    taxable  years  following the excess credit year.  The credit
 3    must be applied to the earliest year for which there is a tax
 4    liability.  If there are credits from more than one tax  year
 5    that  are  available  to offset a liability, then the earlier
 6    credit must be applied first.
 7        (c)  As used in  this  Section,  "start-up  costs"  means
 8    planning,   site-preparation,  construction,  renovation,  or
 9    acquisition of a  child  care  facility.   As  used  in  this
10    Section,  "child  care  facility"  is limited to a child care
11    facility located in Illinois.
12        (d)  A corporate taxpayer claiming the credit provided by
13    this Section shall maintain and record  such  information  as
14    the  Department  may require by rule regarding the child care
15    facility for which the credit is claimed.

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

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