DAVIS,STEVE-LOPEZ-SCOTT-ERWIN-MCKEON, BOLAND AND DAVIS,MONIQUE.
INC TX-CR-DEPENDENT CARE
Synopsis of Bill as introduced:
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
STATE MANDATES FISCAL NOTE
HB141 fails to create a State mandate.
FISCAL NOTE (Dept. of Revenue)
HB 141 will cost $32 million annually (estimated 300,000 Ill.
filers at an average credit amount of $105).
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status