Illinois 2025-2026 Regular Session

Illinois Senate Bill SB2263 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 SB2263 Introduced 2/7/2025, by Sen. Jil Tracy SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates a child care credit in an amount equal to 25% of the federal tax credit for each qualifying child. Effective immediately. LRB104 10642 HLH 20719 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2263 Introduced 2/7/2025, by Sen. Jil Tracy SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates a child care credit in an amount equal to 25% of the federal tax credit for each qualifying child. Effective immediately. LRB104 10642 HLH 20719 b LRB104 10642 HLH 20719 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2263 Introduced 2/7/2025, by Sen. Jil Tracy 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 a child care credit in an amount equal to 25% of the federal tax credit for each qualifying child. Effective immediately.
6	6	LRB104 10642 HLH 20719 b LRB104 10642 HLH 20719 b
7	7	LRB104 10642 HLH 20719 b
8	8	A BILL FOR
9	9	SB2263LRB104 10642 HLH 20719 b SB2263 LRB104 10642 HLH 20719 b
10	10	SB2263 LRB104 10642 HLH 20719 b
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. Child care credit.
18	18	8 (a) For taxable years beginning on or after January 1,
19	19	9 2025, each qualified individual taxpayer is entitled to a
20	20	10 credit against the tax imposed by subsections (a) and (b) of
21	21	11 Section 201 in an amount equal to 25% of the federal tax credit
22	22	12 allowed to the taxpayer for each qualifying child for the
23	23	13 taxable year under Section 24 of the federal Internal Revenue
24	24	14 Code.
25	25	15 For a non-resident or part-year resident, the amount of
26	26	16 the credit under this Section shall be in proportion to the
27	27	17 amount of income attributable to this State.
28	28	18 (b) If the amount of the credit exceeds the income tax
29	29	19 liability for the applicable tax year, then the excess credit
30	30	20 shall be refunded to the taxpayer. The amount of any refunded
31	31	21 credit under this Section shall not be included in the
32	32	22 taxpayer's income or resources for the purposes of determining
33	33	23 eligibility or benefit level in any means-tested benefit
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2263 Introduced 2/7/2025, by Sen. Jil Tracy 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 a child care credit in an amount equal to 25% of the federal tax credit for each qualifying child. Effective immediately.
41	41	LRB104 10642 HLH 20719 b LRB104 10642 HLH 20719 b
42	42	LRB104 10642 HLH 20719 b
43	43	A BILL FOR
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49	49	35 ILCS 5/246 new
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53	53	LRB104 10642 HLH 20719 b
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63	63	SB2263 LRB104 10642 HLH 20719 b
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66	66	SB2263- 2 -LRB104 10642 HLH 20719 b SB2263 - 2 - LRB104 10642 HLH 20719 b
67	67	SB2263 - 2 - LRB104 10642 HLH 20719 b
68	68	1 program administered by a governmental entity, unless required
69	69	2 by federal law.
70	70	3 (c) For purposes of this Section:
71	71	4 "Qualified individual taxpayer" means a taxpayer who
72	72	5 may claim one or more qualifying children as dependents
73	73	6 and whose federal adjusted gross income is less than or
74	74	7 equal to the threshold amount, as defined in Section 24 of
75	75	8 the Internal Revenue Code.
76	76	9 "Qualifying child" means a child who is 13 years of
77	77	10 age or younger and who may be claimed as a dependent on the
78	78	11 taxpayer's federal income tax return under the Internal
79	79	12 Revenue Code.
80	80	13 (d) This Section is exempt from the provisions of Section
81	81	14 250.
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87	87	SB2263 - 2 - LRB104 10642 HLH 20719 b