INCOME TAX-FAMILY LEAVE CREDIT

Amends the Illinois Income Tax Act. Provides that, beginning with taxable years ending on or after December 31, 2003, each taxpayer that is an employer is entitled to an income tax credit in the amount of 50% of the salary or wage costs incurred in granting paid family leave to any employee, not to exceed $2,000 per employee per year. Provides that the tax credit may be carried forward for 5 taxable years. Exempts the credit from the sunset provisions of the Act.