Bill > SB2382

This bill amends the Illinois Income Tax Act to create a tax credit for individuals or businesses that donate real property to an employer specifically for establishing onsite child care facilities for employees. Starting in the 2026 tax year, taxpayers who make such donations can receive a tax credit equal to the fair market value of the donated property, as determined by the Department of Revenue. The bill includes several important restrictions: the credit cannot reduce tax liability below zero, any excess credit can be carried forward and applied to tax liability for up to 10 subsequent years, and the donation cannot be made to a "related member" (defined as a stockholder, family member, partnership, or corporation with at least 50% ownership or profit sharing connection to the taxpayer). For partners and shareholders of S corporations, specific provisions in Section 251 will apply to how this credit is handled. The aim of the bill appears to be incentivizing employers to provide child care facilities by offering tax benefits to those who donate appropriate real estate for such purposes.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2382&GAID=18&DocTypeID=SB&SessionID=114&GA=104