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IL SB2718
Bill
AI Summary
- Creates an income tax credit for early childhood teachers and early childhood assistants employed during the taxable year with federal adjusted gross income of $75,000 or less
- Sets initial credit amount at $1,000 for taxable years beginning January 1, 2025 through December 31, 2025
- Adjusts credit amount annually for taxable years beginning January 1, 2026 and later by the percentage increase in the Consumer Price Index for the preceding calendar year
- Defines "early childhood assistant" as a person employed in a child care center meeting qualifications set forth in 89 Ill. Adm. Code 407.150
- Amends the Illinois Income Tax Act by adding Section 241
Legislative Description
INC TX-EARLY CHILDHOOD
Last Action
Session Sine Die
1/7/2025
Committee Referrals
Assignments5/3/2024
Revenue3/12/2024
Assignments1/10/2024
Full Bill Text
No bill text available