96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2431

 

Introduced 2/19/2009, by Rep. Charles E. Jefferson - Keith Farnham

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/218 new

    Amends the Illinois Income Tax Act. Authorizes a credit to each individual taxpayer equal to 20% of the costs of providing medical care and education, including transportation, for a grandchild or step-grandchild during the tax year. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.


LRB096 09537 RCE 19696 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2431 LRB096 09537 RCE 19696 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Income Tax Act is amended by adding
5 Section 218 as follows:
 
6     (35 ILCS 5/218 new)
7     Sec. 218. Credit for grandchild care.
8     (a) For each taxable year ending on or after December 31,
9 2009, each individual taxpayer is entitled to a credit against
10 the tax imposed by subsections (a) and (b) of Section 201 of
11 this Act equal to 20% of the costs of providing medical care
12 and education, including transportation, for a grandchild or
13 step-grandchild during the tax year.
14     (b) In no event shall a credit under this Section reduce
15 the taxpayer's liability to less than zero. If the amount of
16 the credit exceeds the tax liability for the year, the excess
17 may not be carried back or carried forward.
18     (c) This Section is exempt from the provisions of Section
19 250.
 
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.