House Sponsors: LOPEZ-MCKEON-ACEVEDO-CROTTY. Short description: INC TAX CREDT-EMPLOYEE DAYCARE Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that, for taxable years 2000 through 2004, each corporation is entitled to an income tax credit in an amount equal to (i) 15% of the amount expended in the tax year for which the credit is claimed by the corporation to provide day care for the children of employees of the corporation on the premises of the employee's workplace or (ii) 10% of the amount expended in the tax year for which the credit is claimed by the corporation to provide child care locator services for employees of the corporation. Provides that (i) the tax credit may not reduce the corporation's tax liability to less than zero and (ii) any excess may be carried forward and applied to the tax liability of the 2 taxable years following the excess credit year. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status