Bill > SB2097

This bill amends the Illinois Income Tax Act to create a tax credit for foster parents who provide care to qualifying dependent children in Illinois. Starting from the 2025 tax year, foster parents can claim a credit of up to $1,000 per qualifying dependent child, which is defined as an Illinois resident in the custody of the Department of Children and Family Services (DCFCS). To receive the full credit, the foster parent must be under contract with DCFCS and providing care for at least 6 months during the tax year. If the care is provided for less than 6 months, the credit will be prorated based on the number of days of care. The credit cannot reduce a taxpayer's liability below zero, but any excess credit can be carried forward and applied to tax liability for up to 5 subsequent years. The bill requires DCFCS, in collaboration with the Department of Revenue, to establish rules for implementing this tax credit, and it is designed to provide financial support and incentive for foster parents caring for children in the state's child welfare system.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2097&GAID=18&DocTypeID=SB&SessionID=114&GA=104