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90_HB3545
35 ILCS 5/211 new
Amends the Illinois Income Tax Act. Provides that,
beginning with taxable years beginning on or after January 1,
1998 and ending with taxable years ending on or before
December 30, 2003, each taxpayer shall be entitled to a tax
credit against the tax imposed under the Act in an amount
equal to 5% of the expenditures by the taxpayer for child
care for a child in the taxpayer's custody. Provides that the
credit shall not reduce the taxpayer's liability under the
Act to less than zero.
LRB9009319KDks
LRB9009319KDks
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
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 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Tax credit for child care. Beginning with
9 taxable years beginning on or after January 1, 1998 and
10 ending with taxable years ending on or before December 30,
11 2003, each taxpayer shall be entitled to a tax credit against
12 the tax imposed by subsections (a) and (b) of Section 201 of
13 this Act equal to 5% of the expenditures by the taxpayer for
14 child care for a child in the taxpayer's custody. This credit
15 shall not reduce a taxpayer's tax liability to less than
16 zero.