Illinois Senate Bill 1835

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 6 2025 - 25% progression
Action: 2025-02-06 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

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, if the taxpayer is located in a rural or economically challenged area, 15% of those expenditures. Provides that the total amount of credits awarded under these 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 awarded for any particular taxpayer in any taxable year shall be $20,000,000. Effective immediately.

INC TAX-MANUFACTURING

Sen. Chapin Rose [R]

Date	Chamber	Action
2025-02-06	Senate	Referred to Assignments
2025-02-06	Senate	First Reading
2025-02-06	Senate	Filed with Secretary by Sen. Chapin Rose

Chapter	Article	Section	Citation Type	Statute Text
35	5	235	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1835&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/SB/10400SB1835.htm