[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
92_HB0070
LRB9200845SMdv
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 213.
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 213 as follows:
7 (35 ILCS 5/213 new)
8 Sec. 213. Tax credit for on-site employee day care. For
9 taxable years ending on or after December 31, 2001, each
10 taxpayer who employs at least 5 persons is entitled to a
11 credit against the tax imposed by subsections (a) and (b) of
12 Section 201 in an amount equal to 10% of the amount expended
13 by the employer to provide day care for the children of
14 employees on the premises of the employees' workplace. An
15 eligible taxpayer may claim the credit under this Section or
16 the credit under Section 210, but may not claim both in the
17 same taxable year.
18 The tax credit may not reduce the taxpayer's liability to
19 less than zero. If the amount of the tax credit exceeds the
20 tax liability for the year, the excess may be carried forward
21 and applied to the tax liability of the 2 taxable years
22 following the excess credit year. The credit shall be
23 applied to the earliest year for which there is a tax
24 liability. If there are credits from more than one tax year
25 that are available to offset a liability, then the earlier
26 credit shall be applied first. This Section is exempt from
27 the provisions of Section 250.
28 Section 99. Effective date. This Act takes effect upon
29 becoming law.