INC TAX CR-ST CHILD CARE SITE
Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act. Provides that beginning with
tax years ending on or after December 31, 1997 and ending with tax
years ending on or before December 31, 2006, an individual may receive
an income tax credit in an amount equal to 10% of the credit received
by the taxpayer for the same taxable year under Section 129 of the
Internal Revenue Code of 1986 for expenditures during the tax year for
the care of a child in a State certified day care or child care
facility. Effective immediately.
HOUSE AMENDMENT NO. 1.
Specifies that the credit is for individuals with an adjusted
gross income of $50,000 or less.
STATE MANDATES FISCAL NOTE
HB142 fails to create a State mandate.
FISCAL NOTE, H-AM 1 (Dept. of Revenue)
HB142 will have an indeterminable negative fiscal impact.
STATE MANDATES FISCAL NOTE, H-AM 1
HB142, as amended by H-am 1 fails to create State mandate.
HOME RULE NOTE, H-AM 1
HB142, amended by H-am 1, does not preempt home rule authority.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status