SB3216

Illinois SB3216 creates a tax credit for early childhood teachers and assistants with a federal adjusted gross income of $75,000 or less.

Illinois SB3216 amends the Illinois Income Tax Act to introduce an income tax credit for early childhood teachers and assistants. This credit applies to those with a federal adjusted gross income of $75,000 or less. The credit amount is set at $1,000 for taxable years starting on or after January 1, 2026, and before January 1, 2027. For subsequent years, the credit amount will be adjusted based on the Consumer Price Index for the preceding calendar year. If the credit exceeds the taxpayer's Illinois income tax liability, the excess amount will be refunded to the taxpayer.