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Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the recipient of a credit under the Act may apply for a certificate of transferability of credit from the Department of Commerce and Economic Opportunity for the amount of the credit not previously claimed. Provides that the transferability certificate may be transferred or sold by the recipient to another Illinois taxpayer. Provides that unused Economic Development for a Growing Economy tax credits may be carried forward for a period of 10 years (currently, 5 years). Makes other changes.
Introduced
Jan 17, 2025
Last Action
Jun 2, 2025
Session
IL 104th
Sponsors
1 primary · 1 co
Rule 3-9(a) / Re-referred to Assignments
Added as Co-Sponsor Sen. Chris Balkema
Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Rule 2-10 Committee Deadline Established As April 11, 2025
Assigned to Revenue
Filed with Secretary by Sen. Sally J. Turner
Referred to Assignments
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 3-9(a) / Re-referred to Assignments
Sally J. Turner