IL SB2717

Creates an income tax credit for custodians of children ages 3-5 who attend eligible preschool programs in Illinois, effective for taxable years beginning January 1, 2025.

Credit amount equals 100% of eligible expenses (tuition, fees, and necessary school supplies) incurred during the taxable year, capped at $1,500 per child annually.

Eligible preschools must be operated by a public school district or other authorized entity and employ at least one teacher with a Professional Educator License with early childhood education endorsement.

Excludes expenses for which the taxpayer claims a federal income tax deduction for the same taxable year.

Excess credits beyond tax liability may be refunded to the taxpayer.