Bill Text: IL HB3957 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates a credit equal to a percentage the federal child and dependent care credit received by the taxpayer. Provides that the credit shall be equal to: (i) 50% of the federal credit if the taxpayer's adjusted gross income is $25,000 or less; (ii) 30% of the federal credit if the taxpayer's adjusted gross income is more than $25,000 but not more than $35,000; and (iii) 10% of the federal credit if the taxpayer's adjusted gross income is more than $35,000. Provides that the credit may be refunded to the taxpayer. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3957 Detail]

Download: Illinois-2015-HB3957-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB3957 Introduced , by Rep. Joe Sosnowski SYNOPSIS AS INTRODUCED:
35 ILCS 5/224 new
Amends the Illinois Income Tax Act. Creates a credit equal to a percentage the federal child and dependent care credit received by the taxpayer. Provides that the credit shall be equal to: (i) 50% of the federal credit if the taxpayer's adjusted gross income is $25,000 or less; (ii) 30% of the federal credit if the taxpayer's adjusted gross income is more than $25,000 but not more than $35,000; and (iii) 10% of the federal credit if the taxpayer's adjusted gross income is more than $35,000. Provides that the credit may be refunded to the taxpayer. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by adding
Section 224 as follows:
(35 ILCS 5/224 new)
Sec. 224. Federal child and dependent care credit. For
taxable years beginning on or after January 1, 2016, with
respect to the federal child and dependent care credit allowed
for the taxable year under Section 21 of the federal Internal
Revenue Code, 26 U.S.C. 21, each individual taxpayer is
entitled to a credit against the tax imposed by subsections (a)
and (b) of Section 201 in an amount equal to: (i) 50% of the
federal credit if the taxpayer's adjusted gross income is
$25,000 or less; (ii) 30% of the federal credit if the
taxpayer's adjusted gross income is more than $25,000 but not
more than $35,000; and (iii) 10% of the federal credit if the
taxpayer's adjusted gross income is more than $35,000.
If the amount of the credit exceeds the income tax
liability for the applicable tax year, then the excess credit
shall be refunded to the taxpayer. The amount of a refund shall
not be included in the taxpayer's income or resources for the
purposes of determining eligibility or benefit level in any

HB3957 - 2 - LRB099 10370 HLH 30597 b
means-tested benefit program administered by a governmental
entity unless required by federal law.
This Section is exempt from the provisions of Section 250.
Section 99. Effective date. This Act takes effect upon
becoming law.