96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2431


 
Introduced 2/19/2009, by Rep. Charles E. Jefferson - Keith Farnham
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 5/218 new










    Amends the Illinois Income Tax Act. Authorizes a credit to each individual taxpayer equal to 20% of the costs of providing medical care and education, including transportation, for a grandchild or step-grandchild during the tax year. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.
















LRB096 09537 RCE 19696 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB2431

LRB096 09537 RCE 19696 b






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    AN ACT concerning revenue.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Income Tax Act is amended  by adding 
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Section 218 as follows:
 
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    (35 ILCS 5/218  new)
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    Sec. 218. Credit for grandchild care.
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    (a) For each taxable year ending on or after December 31, 
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2009, each individual taxpayer is entitled to a credit against 
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the tax imposed by subsections (a) and (b) of Section 201 of 
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this Act equal to 20% of the costs of providing medical care 
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and education, including transportation, for a grandchild or 
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step-grandchild during the tax year.
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    (b) In no event shall a credit under this Section reduce 
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the taxpayer's liability to less than zero. If the amount of 
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the credit exceeds the tax liability for the year, the excess 
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may not be carried back or carried forward.
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    (c) This Section is exempt from the provisions of Section 
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250. 
 

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