Bill Text: IL HB3342 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Creates a tax credit for a taxpayer who: (i) is allowed the federal Child and Dependent Care Credit; and (ii) is a member or spouse of a member of the Armed Forces of the United States, the Illinois National Guard, or any reserve component of the Armed Forces of the United States, who was deployed during the taxable year on active military duty outside the United States and its territories. Provides that the amount of the credit is the lesser of $1,000 or the amount of the federal tax credit. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB3342 Detail]

Download: Illinois-2013-HB3342-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB3342 Introduced , by Rep. Wayne Rosenthal SYNOPSIS AS INTRODUCED:
35 ILCS 5/224 new
Amends the Illinois Income Tax Act. Creates a tax credit for a taxpayer who: (i) is allowed the federal Child and Dependent Care Credit; and (ii) is a member or spouse of a member of the Armed Forces of the United States, the Illinois National Guard, or any reserve component of the Armed Forces of the United States, who was deployed during the taxable year on active military duty outside the United States and its territories. Provides that the amount of the credit is the lesser of $1,000 or the amount of the federal tax credit. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.
LRB098 08232 HLH 38330 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
HB3342 LRB098 08232 HLH 38330 b
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. Veterans' child care credit.
(a) For taxable years ending on or after December 31, 2013
and on or before December 30, 2018, an individual taxpayer is
entitled to a credit against the tax imposed under subsections
(a) and (b) of Section 201 if that taxpayer: (i) is allowed the
federal Child and Dependent Care Credit under Section 21 of the
Internal Revenue Code (26 U.S.C. 21); and (ii) is a member or
spouse of a member of the Armed Forces of the United States,
the Illinois National Guard, or any reserve component of the
Armed Forces of the United States, who was deployed during the
taxable year on active military duty outside the United States
and its territories. The amount of the credit under this
Section is an amount equal to the lesser of (i) $1,000 or (ii)
the amount of the federal tax credit.
(b) The credit under this Section may not be carried
forward or back and may not reduce the taxpayer's liability to
less than zero.

HB3342 - 2 - LRB098 08232 HLH 38330 b
Section 99. Effective date. This Act takes effect upon
becoming law.