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90_HB3183
35 ILCS 5/210
Amends the Illinois Income Tax Act. Provides that the
current tax credit for dependent care assistance programs is
available for tax years ending on or before December 30,
1998. Creates a child care facility construction and
expansion tax credit. Provides that the credit that shall be
available to all taxpayers and shall be in an amount equal to
5% of amount of expenditures by the taxpayer to provide an
on-site child care facility, to expand a current child care
facility, to train child care workers, to pay the entire
cost of an off-site child care facility for the taxpayer's
employees, and to pay child care referral costs incurred on
behalf of the taxpayer's employees. Exempts the credit from
the sunset provisions. Effective immediately.
LRB9010940KDpkA
LRB9010940KDpkA
1 AN ACT to amend the Illinois Income Tax Act by changing
2 Section 210.
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 changing Section 210 as follows:
7 (35 ILCS 5/210)
8 Sec. 210. Child care facility construction and expansion
9 Dependent care assistance program tax credit.
10 (a) Beginning with tax years ending on or after June 30,
11 1995 and ending with tax years ending on or before December
12 30, 1998, each taxpayer who is primarily engaged in
13 manufacturing is entitled to a credit against the tax imposed
14 by subsections (a) and (b) of Section 201 in an amount equal
15 to 5% of the amount of expenditures by the taxpayer in the
16 tax year for which the credit is claimed, reported pursuant
17 to Section 129(d)(7) of the Internal Revenue Code, to provide
18 in the Illinois premises of the taxpayer's workplace an
19 on-site facility dependent care assistance program under
20 Section 129 of the Internal Revenue Code.
21 (a-5) Beginning with tax years ending on or after
22 December 31, 1998, each taxpayer is entitled to a credit
23 against the tax imposed by subsections (a) and (b) of Section
24 201 in an amount equal to 5% of the amount of expenditures by
25 the taxpayer for the benefit of the taxpayer's employees
26 during the tax year to provide an on-site child care
27 facility, to expand a current child care facility, to train
28 child care workers, to pay the entire cost of an off-site
29 child care facility, and to pay child care referral costs
30 incurred on behalf of the taxpayer's employees. This
31 subsection is exempt from the provisions of Section 250.
-2- LRB9010940KDpkA
1 (b) If the amount of credit exceeds the tax liability
2 for the year, the excess may be carried forward and applied
3 to the tax liability of the 2 taxable years following the
4 excess credit year. The credit shall be applied to the
5 earliest year for which there is a tax liability. If there
6 are credits from more than one tax year that are available to
7 offset a liability, the earlier credit shall be applied
8 first.
9 (c) A taxpayer claiming the credit provided by
10 subsection (a) this Section shall maintain and record such
11 information as the Department may require by regulation
12 regarding the dependent care assistance program for which
13 credit is claimed. When claiming the credit provided by
14 subsection (a) this Section, the taxpayer shall provide such
15 information regarding the taxpayer's provision of a dependent
16 care assistance program under Section 129 of the Internal
17 Revenue Code.
18 (d) A taxpayer claiming the credit provided in
19 subsection (a-5) shall maintain and record such information
20 as the Department may require by regulation regarding the
21 child care services for which this credit is claimed.
22 (Source: P.A. 88-505.)
23 Section 99. Effective date. This Act takes effect upon
24 becoming law.