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IL HB5080

Bill

Official Source

Status

Introduced

2/4/2026

Primary Sponsor

Mary Canty

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Increases the annual operating cost tax credit for corporate taxpayers providing child care facilities for employees from 5% to 10%, effective for taxable years ending after December 31, 2025.
  • Maintains the existing 30% tax credit for start-up costs (planning, construction, renovation, acquisition) of employer child care facilities in Illinois.
  • Creates a new state tax credit for qualified small businesses equal to 10% of the federal tax credit claimed under Internal Revenue Code Section 45F for qualified child care expenditures, beginning January 1, 2026.
  • Allows excess credits to be carried forward for up to 5 taxable years if the credit exceeds the taxpayer's liability.
  • Prohibits taxpayers from claiming both the existing employee child care credit and the new small business federal credit enhancement for the same expenditure.

Legislative Description

INC TAX-CHILD CARE

Last Action

Assigned to Revenue & Finance Committee

3/12/2026

Committee Referrals

Revenue & Finance3/12/2026
Rules2/10/2026

Full Bill Text

No bill text available