IL SB2382

Creates a new Illinois income tax credit for taxpayers who donate real property to employers for use as onsite child care facilities for their employees

Credit amount equals the fair market value of the donated property, as determined by Department of Revenue rules, effective for taxable years beginning on or after January 1, 2026

Excess credits that exceed tax liability in a given year may be carried forward and applied to tax liability for up to 10 subsequent taxable years

Donations to "related members" of the taxpayer are not eligible for the credit, with related members defined as individuals, partnerships, estates, trusts, or corporations with at least 50% ownership or attribution connections to the taxpayer

Partners and shareholders of Subchapter S corporations may claim the credit according to existing pass-through provisions under Section 251 of the Illinois Income Tax Act