Illinois 2025-2026 Regular Session

Illinois Senate Bill SB2097 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2097 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately. LRB104 09844 HLH 19912 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2097 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately. LRB104 09844 HLH 19912 b LRB104 09844 HLH 19912 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2097 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 5/246 new 35 ILCS 5/246 new
4	4	35 ILCS 5/246 new
5	5	Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately.
6	6	LRB104 09844 HLH 19912 b LRB104 09844 HLH 19912 b
7	7	LRB104 09844 HLH 19912 b
8	8	A BILL FOR
9	9	SB2097LRB104 09844 HLH 19912 b SB2097 LRB104 09844 HLH 19912 b
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11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Income Tax Act is amended by
15	15	5 adding Section 246 as follows:
16	16	6 (35 ILCS 5/246 new)
17	17	7 Sec. 246. Foster care credit.
18	18	8 (a) For taxable years beginning on or after January 1,
19	19	9 2025, there shall be allowed a credit against the tax imposed
20	20	10 by subsections (a) and (b) of Section 201 of this Act in an
21	21	11 amount equal to the foster care expenses paid or incurred, not
22	22	12 to exceed $1,000 in any taxable year, for each qualifying
23	23	13 dependent child legally cared for by the foster care parent in
24	24	14 Illinois. The tax credit under this Section may be claimed for
25	25	15 the taxable year in which the foster care parent becomes the
26	26	16 legal guardian of a foster child. The taxpayer must be under
27	27	17 contract with the Department of Children and Family Services
28	28	18 and providing care to the qualifying dependent child for at
29	29	19 least 6 months during the taxable year to receive the full
30	30	20 credit. If the taxpayer is under contract with the Department
31	31	21 of Children and Family Services and providing care to the
32	32	22 qualifying dependent child for less than 6 months during the
33	33	23 taxable year, then the taxpayer is entitled to a credit in an
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2097 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 5/246 new 35 ILCS 5/246 new
39	39	35 ILCS 5/246 new
40	40	Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately.
41	41	LRB104 09844 HLH 19912 b LRB104 09844 HLH 19912 b
42	42	LRB104 09844 HLH 19912 b
43	43	A BILL FOR
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68	68	1 amount equal to: the lesser of (i) the foster care expenses
69	69	2 paid or incurred by the taxpayer or (ii) $1,000; multiplied by
70	70	3 a fraction the numerator of which is the number of days during
71	71	4 the taxable year during which the taxpayer is under contract
72	72	5 with the Department of Children and Family Services and
73	73	6 providing care to the qualifying dependent child and the
74	74	7 denominator of which is 365.
75	75	8 (b) In no event shall a credit under this Section reduce a
76	76	9 taxpayer's liability to less than zero. If the amount of the
77	77	10 credit exceeds the tax liability for the year, the excess may
78	78	11 be carried forward and applied to the tax liability for the 5
79	79	12 taxable years following the excess credit year. The tax credit
80	80	13 shall be applied to the earliest year for which there is a tax
81	81	14 liability. If there are credits for more than one year that are
82	82	15 available to offset liability, the earlier credit shall be
83	83	16 applied first.
84	84	17 (c) The Department of Children and Family Services, in
85	85	18 collaboration with the Department of Revenue, shall adopt any
86	86	19 necessary rules to implement this Section.
87	87	20 (d) As used in this Section, "qualifying dependent child"
88	88	21 means a person who is an Illinois resident in the custody of
89	89	22 the Department of Children and Family Services who is the
90	90	23 foster child of the taxpayer seeking a credit under this
91	91	24 Section.
92	92	25 (e) This Section is exempt from the provisions of Section
93	93	26 250.
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