SB2277

Illinois SB2277 amends the Illinois Income Tax Act to adjust tax credits for corporate taxpayers providing child care facilities for employees.

Illinois SB2277 amends the Illinois Income Tax Act to modify the tax credit for corporate taxpayers providing child care facilities for their employees. For taxable years ending on or after December 31, 2025, the credit will be 50% of the start-up costs and 20% of the annual amount paid for child care facilities. The credit cannot reduce the taxpayer's liability to less than zero and any excess can be carried forward for up to five years.