92nd General Assembly
Summary of SB1746
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Senate Sponsors:

Short description: 
INC TAX-DAYCARE EXPENSE CREDIT                                             

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that,  for  taxable      
   years  ending  on  or  after December 31, 2002 and ending on or before      
   December 30, 2007, every individual taxpayer whose taxable  income  is      
   $75,000  or less is entitled to a tax credit equal to 5% of the amount      
   paid in the taxable year for dependent care expenses for  a  dependent      
   child of the taxpayer or an elderly dependent of the taxpayer 65 years      
   old  or  older.   Allows the credit to be carried forward for 5 years.      
   Effective immediately.                                                      
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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