SB2263

Illinois SB2263 creates a child care credit for qualified individual taxpayers equal to 25% of the federal tax credit for each qualifying child.

Illinois SB2263 amends the Illinois Income Tax Act to create a child care credit for qualified individual taxpayers. This credit is equal to 25% of the federal tax credit for each qualifying child. A qualifying child is defined as a child who is 13 years of age or younger and may be claimed as a dependent on the taxpayer's federal income tax return. The credit is effective for taxable years beginning on or after January 1, 2025.