IL SB1647

Creates a new Illinois income tax credit for custodians (parents or legal guardians) of children ages 3-5 who attend eligible preschool programs in the state, effective for taxable years beginning January 1, 2026

Credit equals 100% of eligible expenses (tuition, fees, and necessary school supplies) up to a maximum of $1,500 per child per taxable year

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 an early childhood education endorsement

Credit is refundable—if the credit amount exceeds the taxpayer's tax liability, the excess will be refunded to the taxpayer

Expenses claimed as federal income tax deductions cannot also be used to calculate this state credit