SB0135 amends the Economic Development for a Growing Economy Tax Credit Act to allow unused credits to be carried forward for 10 years instead of 5.
SB0135 amends the Economic Development for a Growing Economy Tax Credit Act to extend the carry-forward period for unused credits from 5 to 10 years. It also allows recipients to apply for a certificate of transferability for credits not previously claimed, which can then be transferred or sold to another Illinois taxpayer. The bill specifies that the carry-forward period for transferred or sold credits begins on the original grant date.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.