Bill Title: Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year, or 15% of the manufacturing capital expenditures if the taxpayer is located in a rural or economically challenged area. Provides that the total amount of credits awarded under those provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2022-03-04 - Added Co-Sponsor Rep. Amy Elik
[HB0659 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2021-02-05 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB0659 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB0659 currently on file. |
Social Comments on IL HB0659
