95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB5903


 
Introduced , by Rep. Rosemary Mulligan - Elizabeth Coulson - Ronald A. Wait - Ruth Munson - Dennis M. Reboletti, et al.
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 5/218 new











    Amends the Illinois Income Tax Act. Creates a tax credit for taxpayers who: (i) is  allowed the federal Child and Dependent Care Credit; and (ii) is a member or spouse of a member of the Armed Forces of the United States, the Illinois National Guard, or any reserve component of the Armed Forces of the United States, who was deployed during the taxable year  on active military duty outside the United States and its territories. Provides that the amount of the credit is the lesser of $1,000 or the amount of the federal tax credit. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.
















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FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB5903

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    AN ACT concerning revenue.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:



 
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    Section 5. The Illinois Income Tax Act is amended  by adding 
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Section 218 as follows:
 
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    (35 ILCS 5/218  new)
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    Sec. 218. Veterans' child care credit. 
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    (a) For taxable years ending on or after December 31, 2008 
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and on or before December 30, 2013, an individual taxpayer is 
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entitled to a credit against the tax imposed under subsections 
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(a) and (b) of  Section 201 if that taxpayer: (i) is  allowed the 
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federal Child and Dependent Care Credit under Section 21 of the 
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Internal Revenue Code (26 U.S.C. 21); and (ii) is a member or 
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spouse of a member of the Armed Forces of the United States, 
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the Illinois National Guard, or any reserve component of the 
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Armed Forces of the United States, who was deployed during the 
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taxable year  on active military duty outside the United States 
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and its territories. The amount of the credit under this 
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Section is an amount equal to the lesser of (i) $1,000 or (ii) 
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the amount of the federal tax credit.
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    (b) The credit under this Section may not be carried 
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forward or back and may not reduce the taxpayer's liability to 
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less than zero.
 

 


 






HB5903
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.