92nd General Assembly
Status of SB0745
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 Full Text  Bill Summary

   35 ILCS 5/211 new                                                           

        Amends the Illinois Income Tax Act.  Creates a credit against the      
   taxes imposed under the Act for individuals for expenditures made  for      
   child  care.    Provides  that the amount of the credit depends on the      
   amount of the taxpayer's federal adjusted gross income and the  amount      
   of  the  federal  child care credit to which the taxpayer is entitled.      
   Provides that any excess credit may be carried forward and applied  to      
   the  tax liability of the 5 following taxable years.  Provides that an      
   individual who receives child care assistance from the  Department  of      
   Human  Services  shall  be  entitled to a credit only to the extent of      
   unreimbursed out-of-pocket expenses that result in  a  federal  credit      
   for  child  care  expense.   Provides that the credit is available for      
   taxable years beginning on or after January  1,  2001.    Sunsets  the      
   credit after 5 years.  Effective January 1, 2002.                           
   FEB-21-2001  S  FIRST READING                                                  
   FEB-21-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               REVENUE               
   MAR-22-2001  S       TO SUBCOMMITTEE                                           
   MAR-22-2001  S                   COMMITTEE               REVENUE               
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary