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IL SB3567
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Omar Aquino
Click for details
AI Summary
- Amends the Illinois Income Tax Act to restructure the child tax credit calculation for tax years beginning January 1, 2025, basing credit amounts on taxpayer adjusted gross income relative to federal earned income tax credit thresholds
- Taxpayers with adjusted gross income at or below the federal EITC maximum threshold receive a credit equal to 40% of the maximum value allowed under Section 212 based on number of qualifying dependents
- Taxpayers with income exceeding the federal EITC threshold but still qualifying for at least $1 under Section 212 receive 40% of their allowed Section 212 credit
- Removes the existing provision that allowed excess credits to be refunded to taxpayers and excluded refunds from means-tested benefit eligibility calculations
- Applies to taxpayers with qualifying children under age 12 and takes effect immediately upon becoming law
Legislative Description
INC TX-CHILD TAX CREDIT
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/17/2026
Assignments2/5/2026
Full Bill Text
No bill text available