INC TAX-CHILD TAX CREDIT House SponsorsRep. Camille Y. Lilly 1/7/2025HouseSession Sine Die 35 ILCS 5/234 new Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2023, there shall be allowed as an income tax credit for the taxable year with respect to each child of the taxpayer who is under the age of 17 and for whom the taxpayer is allowed an additional exemption under specified provisions an amount equal to $100. Provides that the amount of the credit shall be reduced by $5 for each $2,000 by which the taxpayer's net income exceeds $60,000 in the case of a joint return or exceeds $40,000 in the case of any other form of return. Provides that a credit shall not reduce the taxpayer's liability to less than zero. Effective immediately. 2/14/2023HouseFiled with the Clerk by Rep. Camille Y. Lilly 2/15/2023HouseFirst Reading 2/15/2023HouseReferred to Rules Committee 2/28/2023HouseAssigned to Revenue & Finance Committee 3/9/2023HouseTo Revenue-Income Tax Subcommittee 3/10/2023HouseRule 19(a) / Re-referred to Rules Committee 2/28/2024HouseAssigned to Revenue & Finance Committee 3/8/2024HouseTo Revenue-Income Tax Subcommittee 4/5/2024HouseRule 19(a) / Re-referred to Rules Committee 1/7/2025HouseSession Sine Die