Bill > HB4406

This bill amends the Illinois Income Tax Act to create an income tax credit for foster care expenses, up to $1,000 per year, for taxpayers who are foster parents to a qualifying dependent child in the custody of the Illinois Department of Children and Family Services. The credit can be prorated if the taxpayer is a foster parent for less than 6 months during the taxable year, and any unused credit can be carried forward for up to 5 years. The Department of Children and Family Services and the Department of Revenue are required to adopt rules to implement and administer this tax credit.