IL SB3784

Creates an Illinois income tax credit for taxpayers who donate real property to employers for use as onsite child care facilities for their employees, effective for taxable years beginning on or after January 1, 2027

Credit amount equals the fair market value of the donated property, as determined by Department of Revenue rules

Excess credits may be carried forward for up to 10 taxable years if the credit exceeds the taxpayer's tax liability in the donation year

Donations to "related members" of the taxpayer are disqualified, including stockholders with 50% or greater ownership, affiliated partnerships, estates, trusts, or corporations under IRS attribution rules

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