Illinois SB3783 introduces a tax credit for eligible preschool expenses up to $1,500 per child.

Illinois SB3783 amends the Illinois Income Tax Act to create an income tax credit for eligible preschool expenses. This credit applies to Illinois residents who are parents or legal guardians of children aged 3 to 5 attending an eligible preschool program. Eligible expenses include tuition, fees, and necessary school supplies. The credit is 100% of the eligible expenses, up to a maximum of $1,500 per child per taxable year. If the credit exceeds the tax liability, the excess may be refunded to the taxpayer.

Illinois SB3783 introduces a tax credit for eligible preschool expenses up to $1,500 per child.

Illinois SB3783 amends the Illinois Income Tax Act to create an income tax credit for eligible preschool expenses. This credit applies to Illinois residents who are parents or legal guardians of children aged 3 to 5 attending an eligible preschool program. Eligible expenses include tuition, fees, and necessary school supplies. The credit is 100% of the eligible expenses, up to a maximum of $1,500 per child per taxable year. If the credit exceeds the tax liability, the excess may be refunded to the taxpayer.