Illinois SB3785 amends the Illinois Income Tax Act to adjust the tax credit for employee child care.

Illinois SB3785 modifies the Illinois Income Tax Act to change the tax credit for employee child care. For taxable years ending after December 31, 2026, the credit increases to 50% of start-up costs and 20% of annual costs for providing child care facilities. For years between December 31, 2007, and December 31, 2026, the credit is 30% of start-up costs and 5% of annual costs. The bill also specifies that the credit cannot be claimed for the same taxable year as another credit under Section 210.5. This change affects corporate taxpayers providing child care facilities for their employees.

Illinois SB3785 amends the Illinois Income Tax Act to adjust the tax credit for employee child care.

Illinois SB3785 modifies the Illinois Income Tax Act to change the tax credit for employee child care. For taxable years ending after December 31, 2026, the credit increases to 50% of start-up costs and 20% of annual costs for providing child care facilities. For years between December 31, 2007, and December 31, 2026, the credit is 30% of start-up costs and 5% of annual costs. The bill also specifies that the credit cannot be claimed for the same taxable year as another credit under Section 210.5. This change affects corporate taxpayers providing child care facilities for their employees.