96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2933


 
Introduced 2/24/2009, by Rep. Tom Cross
 
SYNOPSIS AS INTRODUCED:
 		







  



35 ILCS 5/210.5










    Amends the Illinois Income Tax Act.  Makes a technical change in a Section
concerning tax credits for providing child care for employees.
















LRB096 06042 RCE 16124 b

















 


 


A BILL FOR









 











HB2933

LRB096 06042 RCE 16124 b






1
    AN ACT concerning revenue.

 
2
    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 

 
4
    Section 5. The Illinois Income Tax Act is amended by 
5
changing Section 210.5 as follows:
 



6
    (35 ILCS 5/210.5)



7
    Sec. 210.5. Tax credit for employee child care. 

8
    (a) Each corporate taxpayer is entitled
to a credit against 
9
the
the tax imposed by subsections (a) and (b) of Section 201

10
in an amount equal to (i) for taxable years ending on or after 
11
December 31,
2000 and on or before December 31, 2004 and for 
12
taxable years ending on or after December 31, 2007, 30% of the 
13
start-up costs expended by
the corporate taxpayer to provide a 
14
child care
facility for the children of its employees and
(ii) 
15
for taxable years ending on or after December 31, 2000, 5% of 
16
the annual
amount paid
by the corporate taxpayer in providing 
17
the child care facility for the children
of its employees.  The 
18
provisions of Section 250 do not apply to the credits allowed 
19
under this Section.  If the 5% credit authorized under item
(ii) 
20
of this subsection is claimed, the 5% credit authorized under 
21
Section 210
cannot also be claimed.
22
    To receive the tax credit under this Section a corporate 
23
taxpayer may either
independently provide and operate a child 
 


 






HB2933
- 2 -
LRB096 06042 RCE 16124 b




1
care facility for the children of its
employees or it may join 
2
in a partnership with one or more other corporations
to jointly 
3
provide and operate a child care facility for the children of

4
employees of the corporations in the partnership.

5
    (b) The tax credit may not reduce the taxpayer's liability 
6
to less than
zero.  If the amount of the tax credit exceeds the 
7
tax liability for the year,
the excess may be carried forward 
8
and applied to the tax liability of the 5
taxable years 
9
following the excess credit year.  The credit must be applied to

10
the earliest year for which there is a tax liability.  If there 
11
are credits
from more than one tax year that are available to 
12
offset a liability, then the
earlier credit must be applied 
13
first.

14
    (c) As used in this Section, "start-up costs" means 
15
planning,
site-preparation, construction, renovation, or 
16
acquisition of a child care
facility.  As used in this Section, 
17
"child care facility" is limited to a child
care facility 
18
located in Illinois.

19
    (d) A corporate taxpayer claiming the credit provided by 
20
this Section
shall maintain and record such information as the 
21
Department may require by
rule regarding the child care 
22
facility for which the credit is claimed.

23
(Source: P.A. 95-648, eff. 10-11-07.)