summary
Introduced
02/06/2025
02/06/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Creates an income tax deduction for individuals, corporations, and partnerships for 100% of the property taxes paid by the taxpayer during the taxable year on childcare center property.
AI Summary
This bill amends the Illinois Income Tax Act to create a new income tax deduction for privately owned childcare centers. Specifically, for taxable years beginning on or after January 1, 2026, the bill allows childcare centers to deduct 100% of the property taxes paid on their childcare center property. This deduction applies to individuals, corporations, and partnerships, meaning that any privately owned childcare center can subtract the full amount of their property taxes from their taxable income. The goal appears to be providing financial support to childcare centers by reducing their tax burden, which could help make childcare operations more financially viable. The deduction will take effect in 2026, giving businesses time to prepare for and benefit from this tax incentive.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Rule 19(a) / Re-referred to Rules Committee (on 03/21/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3310&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB3310.htm |
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