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90_SB0284
35 ILCS 5/211 new
Amends the Illinois Income Tax Act. Creates an income tax
credit in an amount equal to 20% of amounts paid for
employment-related expenses associated with household and
dependent care service costs incurred in the care of a
qualifying individual. Provides that the credit shall not
exceed 50% of the total tax imposed under this Act or $500,
whichever is less. Provides that "employment-related
expenses" and "qualifying individual" shall have the meanings
ascribed to them in the Internal Revenue Code of 1986.
Provides that this credit is available for taxable years
ending on or after December 31, 1997 and ending with taxable
years ending on or before December 31, 2001.
LRB9002105KDks
LRB9002105KDks
1 AN ACT to amend the Illinois Income Tax Act by adding
2 Section 211.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 adding Section 211 as follows:
7 (35 ILCS 5/211 new)
8 Sec. 211. Employment-related household and dependent
9 care credit. Beginning with taxable years ending on or after
10 December 31, 1997 and ending with taxable years ending on or
11 before December 31, 2001, every individual taxpayer is
12 entitled to a credit against the tax imposed by this Act in
13 the amount of 20% of amounts paid for employment-related
14 expenses associated with household and dependent care
15 services for qualifying individuals. The amount of credit
16 received under this Section shall not exceed 50% of the total
17 tax imposed under this Act or $500, whichever is less.
18 For purposes of this Section, "qualifying individuals"
19 and "employment-related expenses" shall have the meanings
20 ascribed to them in Section 21 of the Internal Revenue Code
21 of 1986.