HB3310 creates a tax deduction for 100% of property taxes paid by privately-owned childcare centers on their childcare center property.
HB3310 amends the Illinois Income Tax Act to create a tax deduction for individuals, corporations, and partnerships. Specifically, it allows a deduction for 100% of the property taxes paid by a privately-owned childcare center on their childcare center property for taxable years beginning on or after January 1, 2026. This deduction applies to property taxes paid during the taxable year on property used for childcare center operations. The bill also includes provisions for calculating and applying these deductions, ensuring they do not exceed certain limits and are not double-counted.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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