Illinois SB3788 creates a child care credit for qualified individual taxpayers.

Illinois SB3788 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, 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 applies to taxable years beginning on or after January 1, 2026. If the credit exceeds the income tax liability, the excess is refunded to the taxpayer. The refunded credit amount is not included in the taxpayer's income or resources for other purposes.

Illinois SB3788 creates a child care credit for qualified individual taxpayers.

Illinois SB3788 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, 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 applies to taxable years beginning on or after January 1, 2026. If the credit exceeds the income tax liability, the excess is refunded to the taxpayer. The refunded credit amount is not included in the taxpayer's income or resources for other purposes.