Bill Status of HB3266 97th General Assembly
Short Description: INC TX-VET CHILD CARE CREDIT
Rep. Wayne Rosenthal - Chad Hays - Jason Barickman - Michael Unes - Jil Tracy, Patricia R. Bellock, Darlene J. Senger, Dwight Kay and Richard Morthland
|Session Sine Die
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a tax credit for a taxpayer who: (i) is allowed the federal Child and Dependent Care Credit; and (ii) is a member or spouse of a member of the Armed Forces of the United States, the Illinois National Guard, or any reserve component of the Armed Forces of the United States, who was deployed during the taxable year on active military duty outside the United States and its territories. Provides that the amount of the credit is the lesser of $1,000 or the amount of the federal tax credit. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.