Illinois 2025-2026 Regular Session

Illinois Senate Bill SB2382 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 SB2382 Introduced 2/7/2025, by Sen. John F. Curran SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit for a taxpayer that makes a qualified donation of real property during the taxable year to an employer that will use the property for the purpose of providing onsite child care to its employees. Provides that the credit shall be in an amount equal to the fair market value of the property, as determined by the Department of Revenue by rule. LRB104 11106 HLH 21188 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2382 Introduced 2/7/2025, by Sen. John F. Curran SYNOPSIS AS INTRODUCED: 35 ILCS 5/246 new 35 ILCS 5/246 new Amends the Illinois Income Tax Act. Creates an income tax credit for a taxpayer that makes a qualified donation of real property during the taxable year to an employer that will use the property for the purpose of providing onsite child care to its employees. Provides that the credit shall be in an amount equal to the fair market value of the property, as determined by the Department of Revenue by rule. LRB104 11106 HLH 21188 b LRB104 11106 HLH 21188 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2382 Introduced 2/7/2025, by Sen. John F. Curran 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 for a taxpayer that makes a qualified donation of real property during the taxable year to an employer that will use the property for the purpose of providing onsite child care to its employees. Provides that the credit shall be in an amount equal to the fair market value of the property, as determined by the Department of Revenue by rule.
6	6	LRB104 11106 HLH 21188 b LRB104 11106 HLH 21188 b
7	7	LRB104 11106 HLH 21188 b
8	8	A BILL FOR
9	9	SB2382LRB104 11106 HLH 21188 b SB2382 LRB104 11106 HLH 21188 b
10	10	SB2382 LRB104 11106 HLH 21188 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. Donations of real property for employee child
18	18	8 care.
19	19	9 (a) For taxable years beginning on or after January 1,
20	20	10 2026, a taxpayer that makes a qualified donation of real
21	21	11 property during the taxable year to an employer that will use
22	22	12 the property for the purpose of providing onsite child care to
23	23	13 its employees is entitled to a credit against the tax imposed
24	24	14 by subsections (a) and (b) of Section 201 in an amount equal to
25	25	15 the fair market value of the property. A taxpayer is not
26	26	16 entitled to a credit under this Section if the donation of real
27	27	17 property is made to a related member of the taxpayer. Fair
28	28	18 market value shall be determined in accordance with rules
29	29	19 adopted by the Department.
30	30	20 (b) In no event shall a credit under this Section reduce
31	31	21 the taxpayer's liability to less than zero. If the amount of
32	32	22 the credit exceeds the tax liability for the year, the excess
33	33	23 may be carried forward and applied to the tax liability of the
34	34
35	35
36	36
37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2382 Introduced 2/7/2025, by Sen. John F. Curran 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 for a taxpayer that makes a qualified donation of real property during the taxable year to an employer that will use the property for the purpose of providing onsite child care to its employees. Provides that the credit shall be in an amount equal to the fair market value of the property, as determined by the Department of Revenue by rule.
41	41	LRB104 11106 HLH 21188 b LRB104 11106 HLH 21188 b
42	42	LRB104 11106 HLH 21188 b
43	43	A BILL FOR
44	44
45	45
46	46
47	47
48	48
49	49	35 ILCS 5/246 new
50	50
51	51
52	52
53	53	LRB104 11106 HLH 21188 b
54	54
55	55
56	56
57	57
58	58
59	59
60	60
61	61
62	62
63	63	SB2382 LRB104 11106 HLH 21188 b
64	64
65	65
66	66	SB2382- 2 -LRB104 11106 HLH 21188 b SB2382 - 2 - LRB104 11106 HLH 21188 b
67	67	SB2382 - 2 - LRB104 11106 HLH 21188 b
68	68	1 10 taxable years following the excess credit year. The tax
69	69	2 credit shall be applied to the earliest year for which there is
70	70	3 a tax liability. If there are credits for more than one year
71	71	4 that are available to offset a liability, the earlier credit
72	72	5 shall be applied first.
73	73	6 For partners and shareholders of Subchapter S
74	74	7 corporations, the provisions of Section 251 shall apply with
75	75	8 respect to the credit under this Section.
76	76	9 (c) As used in this Section:
77	77	10 "Related member" means a person that, with respect to the
78	78	11 taxpayer at the time the donation is made, is any one of the
79	79	12 following:
80	80	13 (1) An individual stockholder, if the stockholder and
81	81	14 the members of the stockholder's family (as defined in
82	82	15 Section 318 of the Internal Revenue Code) own directly,
83	83	16 indirectly, beneficially, or constructively, in the
84	84	17 aggregate, at least 50% of the value of the taxpayer's
85	85	18 outstanding stock.
86	86	19 (2) A partnership, estate, or trust and any partner or
87	87	20 beneficiary, if the partnership, estate, or trust, and its
88	88	21 partners or beneficiaries own directly, indirectly,
89	89	22 beneficially, or constructively, in the aggregate, at
90	90	23 least 50% of the profits, capital, stock, or value of the
91	91	24 taxpayer.
92	92	25 (3) A corporation, and any party related to the
93	93	26 corporation in a manner that would require an attribution
94	94
95	95
96	96
97	97
98	98
99	99	SB2382 - 2 - LRB104 11106 HLH 21188 b
100	100
101	101
102	102	SB2382- 3 -LRB104 11106 HLH 21188 b SB2382 - 3 - LRB104 11106 HLH 21188 b
103	103	SB2382 - 3 - LRB104 11106 HLH 21188 b
104	104
105	105
106	106
107	107
108	108
109	109	SB2382 - 3 - LRB104 11106 HLH 21188 b