90th General Assembly
Summary of HB0141
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House Sponsors:

Short description: 
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

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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