MADIGAN,L-CLAYBORNE-OBAMA-TROTTER-LIGHTFORD. 35 ILCS 5/210.5 new Amends the Illinois Income Tax Act. Provides that for taxable years 2000 through 2004, each corporate taxpayer is entitled to an income tax credit in an amount equal to (i) 30% of the start-up costs expended by the corporate taxpayer to provide a child care facility for the children of its employees and (ii) 5% of the annual amount paid or expenses incurred by the corporate taxpayer in providing the child care facility for the children of its employees. Provides that if the 5% credit authorized under this Section is claimed, the 5% dependent care assistance program tax credit cannot also be claimed. Provides that a corporate taxpayer may provide and operate a child care facility independently or in partnership with other corporations. Allows an excess tax credit to be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Effective immediately. 00-01-26 S FIRST READING 00-01-26 S REFERRED TO SENATE RULES COMMITTEE RULES 00-01-27 S ADDED AS A CHIEF CO-SPONSOR CLAYBORNE 00-01-27 S ADDED AS A CHIEF CO-SPONSOR OBAMA 00-02-09 S ADDED AS A CHIEF CO-SPONSOR TROTTER 00-02-16 S ADDED AS A CHIEF CO-SPONSOR LIGHTFORD 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary