96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB6026


 
Introduced 2/10/2010, by Rep. Frank J. Mautino
 
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.
















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A BILL FOR









 











HB6026

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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 
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changing Section 210.5 as follows:
 



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    (35 ILCS 5/210.5)



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    Sec. 210.5. Tax credit for employee child care. 

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

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


 






HB6026
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care facility for the children of its
employees or it may join 
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in a partnership with one or more other corporations
to jointly 
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provide and operate a child care facility for the children of

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employees of the corporations in the partnership.

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

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

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

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

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