IL SB3104

Creates a state child care credit equal to 25% of the federal child care tax credit for each qualifying child, effective for tax years beginning January 1, 2025.

Applies to qualified individual taxpayers with federal adjusted gross income at or below the threshold specified in Section 24 of the Internal Revenue Code.

Defines qualifying children as dependents age 13 or younger who can be claimed on the taxpayer's federal income tax return.

Provides that excess credits exceeding the taxpayer's income tax liability shall be refunded, and refunded amounts are excluded from income and resources for means-tested benefit programs unless required by federal law.

Proportionally reduces the credit for non-resident or part-year residents based on income attributable to Illinois.