Illinois HB3661 creates a tax credit for quantum information science research and development expenditures.
HB3661 amends the Illinois Income Tax Act to establish a tax credit for expenditures related to quantum information science research and development. The credit is equal to 13% of qualifying expenditures and can be carried forward for up to five years. The Department of Commerce and Economic Opportunity is responsible for awarding the credit, with a maximum aggregate amount of $25,000,000 per calendar year. The credit aims to advance quantum information science investment and research in Illinois.
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