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90_HB0141
35 ILCS 5/213 new
Amends the Illinois Income Tax Act. Creates a tax credit
equal to 25% of the credit received by the taxpayer for the
same taxable year under Section 21 of the Internal Revenue
Code of 1986 for employment related expenses for care of a
child, spouse, or parent who is a disabled person. Provides
that the credit is available for tax years ending on or after
December 31, 1997 and ending with tax years ending on or
before December 31, 2006. Provides that the credit may not
reduce an individual's tax liability to less than zero.
Effective immediately.
LRB9000373KRkb
LRB9000373KRkb
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 213.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 213 as follows:
7 (35 ILCS 5/213 new)
8 Sec. 213. Individual tax credit for dependent care.
9 (a) Beginning with tax years ending on or after December
10 31, 1997 and ending with tax years ending on or before
11 December 31, 2006, every individual taxpayer is entitled to a
12 tax credit equal to 25% of the credit received by the
13 taxpayer for the same taxable year under Section 21 of the
14 Internal Revenue Code of 1986 for employment-related expenses
15 for care of a child, spouse, or parent who is a disabled
16 person. In no event shall a credit under this Section reduce
17 an individual's tax liability to less than zero.
18 (b) As used in this Section, "employment-related" is
19 defined as in Section 21(b)(2) of the Internal Revenue Code
20 of 1986.
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.