Bill Text: IL HB1578 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending prior to January 1, 2037 (currently, January 1, 2027). Provides that, in the case of qualifying quantum information science expenditures, the research and development credit shall be equal to 13% of the qualifying expenditures for increasing research activities in the State (currently, 6.5%). Provides that certain qualified startup taxpayers may elect to claim the credit against their obligation to pay withholding taxes. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-03-10 - House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee [HB1578 Detail]

Download: Illinois-2023-HB1578-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB1578 Introduced , by Rep. Mark L. Walker SYNOPSIS AS INTRODUCED:
35 ILCS 5/201
35 ILCS 5/704A
Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending prior to January 1, 2037 (currently, January 1, 2027). Provides that, in the case of qualifying quantum information science expenditures, the research and development credit shall be equal to 13% of the qualifying expenditures for increasing research activities in this State (currently, 6.5%). Provides that certain qualified startup taxpayers may elect to claim the credit against their obligation to pay withholding taxes. Effective immediately.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by
changing Sections 201 and 704A as follows:
(35 ILCS 5/201)
Sec. 201. Tax imposed.
(a) In general. A tax measured by net income is hereby
imposed on every individual, corporation, trust and estate for
each taxable year ending after July 31, 1969 on the privilege
of earning or receiving income in or as a resident of this
State. Such tax shall be in addition to all other occupation or
privilege taxes imposed by this State or by any municipal
corporation or political subdivision thereof.
(b) Rates. The tax imposed by subsection (a) of this
Section shall be determined as follows, except as adjusted by
subsection (d-1):
(1) In the case of an individual, trust or estate, for
taxable years ending prior to July 1, 1989, an amount
equal to 2 1/2% of the taxpayer's net income for the
taxable year.
(2) In the case of an individual, trust or estate, for
taxable years beginning prior to July 1, 1989 and ending

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after June 30, 1989, an amount equal to the sum of (i) 2
1/2% of the taxpayer's net income for the period prior to
July 1, 1989, as calculated under Section 202.3, and (ii)
3% of the taxpayer's net income for the period after June
30, 1989, as calculated under Section 202.3.
(3) In the case of an individual, trust or estate, for
taxable years beginning after June 30, 1989, and ending
prior to January 1, 2011, an amount equal to 3% of the
taxpayer's net income for the taxable year.
(4) In the case of an individual, trust, or estate,
for taxable years beginning prior to January 1, 2011, and
ending after December 31, 2010, an amount equal to the sum
of (i) 3% of the taxpayer's net income for the period prior
to January 1, 2011, as calculated under Section 202.5, and
(ii) 5% of the taxpayer's net income for the period after
December 31, 2010, as calculated under Section 202.5.
(5) In the case of an individual, trust, or estate,
for taxable years beginning on or after January 1, 2011,
and ending prior to January 1, 2015, an amount equal to 5%
of the taxpayer's net income for the taxable year.
(5.1) In the case of an individual, trust, or estate,
for taxable years beginning prior to January 1, 2015, and
ending after December 31, 2014, an amount equal to the sum
of (i) 5% of the taxpayer's net income for the period prior
to January 1, 2015, as calculated under Section 202.5, and
(ii) 3.75% of the taxpayer's net income for the period

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after December 31, 2014, as calculated under Section
202.5.
(5.2) In the case of an individual, trust, or estate,
for taxable years beginning on or after January 1, 2015,
and ending prior to July 1, 2017, an amount equal to 3.75%
of the taxpayer's net income for the taxable year.
(5.3) In the case of an individual, trust, or estate,
for taxable years beginning prior to July 1, 2017, and
ending after June 30, 2017, an amount equal to the sum of
(i) 3.75% of the taxpayer's net income for the period
prior to July 1, 2017, as calculated under Section 202.5,
and (ii) 4.95% of the taxpayer's net income for the period
after June 30, 2017, as calculated under Section 202.5.
(5.4) In the case of an individual, trust, or estate,
for taxable years beginning on or after July 1, 2017, an
amount equal to 4.95% of the taxpayer's net income for the
taxable year.
(6) In the case of a corporation, for taxable years
ending prior to July 1, 1989, an amount equal to 4% of the
taxpayer's net income for the taxable year.
(7) In the case of a corporation, for taxable years
beginning prior to July 1, 1989 and ending after June 30,
1989, an amount equal to the sum of (i) 4% of the
taxpayer's net income for the period prior to July 1,
1989, as calculated under Section 202.3, and (ii) 4.8% of
the taxpayer's net income for the period after June 30,

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1989, as calculated under Section 202.3.
(8) In the case of a corporation, for taxable years
beginning after June 30, 1989, and ending prior to January
1, 2011, an amount equal to 4.8% of the taxpayer's net
income for the taxable year.
(9) In the case of a corporation, for taxable years
beginning prior to January 1, 2011, and ending after
December 31, 2010, an amount equal to the sum of (i) 4.8%
of the taxpayer's net income for the period prior to
January 1, 2011, as calculated under Section 202.5, and
(ii) 7% of the taxpayer's net income for the period after
December 31, 2010, as calculated under Section 202.5.
(10) In the case of a corporation, for taxable years
beginning on or after January 1, 2011, and ending prior to
January 1, 2015, an amount equal to 7% of the taxpayer's
net income for the taxable year.
(11) In the case of a corporation, for taxable years
beginning prior to January 1, 2015, and ending after
December 31, 2014, an amount equal to the sum of (i) 7% of
the taxpayer's net income for the period prior to January
1, 2015, as calculated under Section 202.5, and (ii) 5.25%
of the taxpayer's net income for the period after December
31, 2014, as calculated under Section 202.5.
(12) In the case of a corporation, for taxable years
beginning on or after January 1, 2015, and ending prior to
July 1, 2017, an amount equal to 5.25% of the taxpayer's

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net income for the taxable year.
(13) In the case of a corporation, for taxable years
beginning prior to July 1, 2017, and ending after June 30,
2017, an amount equal to the sum of (i) 5.25% of the
taxpayer's net income for the period prior to July 1,
2017, as calculated under Section 202.5, and (ii) 7% of
the taxpayer's net income for the period after June 30,
2017, as calculated under Section 202.5.
(14) In the case of a corporation, for taxable years
beginning on or after July 1, 2017, an amount equal to 7%
of the taxpayer's net income for the taxable year.
The rates under this subsection (b) are subject to the
provisions of Section 201.5.
(b-5) Surcharge; sale or exchange of assets, properties,
and intangibles of organization gaming licensees. For each of
taxable years 2019 through 2027, a surcharge is imposed on all
taxpayers on income arising from the sale or exchange of
capital assets, depreciable business property, real property
used in the trade or business, and Section 197 intangibles (i)
of an organization licensee under the Illinois Horse Racing
Act of 1975 and (ii) of an organization gaming licensee under
the Illinois Gambling Act. The amount of the surcharge is
equal to the amount of federal income tax liability for the
taxable year attributable to those sales and exchanges. The
surcharge imposed shall not apply if:
(1) the organization gaming license, organization

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license, or racetrack property is transferred as a result
of any of the following:
(A) bankruptcy, a receivership, or a debt
adjustment initiated by or against the initial
licensee or the substantial owners of the initial
licensee;
(B) cancellation, revocation, or termination of
any such license by the Illinois Gaming Board or the
Illinois Racing Board;
(C) a determination by the Illinois Gaming Board
that transfer of the license is in the best interests
of Illinois gaming;
(D) the death of an owner of the equity interest in
a licensee;
(E) the acquisition of a controlling interest in
the stock or substantially all of the assets of a
publicly traded company;
(F) a transfer by a parent company to a wholly
owned subsidiary; or
(G) the transfer or sale to or by one person to
another person where both persons were initial owners
of the license when the license was issued; or
(2) the controlling interest in the organization
gaming license, organization license, or racetrack
property is transferred in a transaction to lineal
descendants in which no gain or loss is recognized or as a

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result of a transaction in accordance with Section 351 of
the Internal Revenue Code in which no gain or loss is
recognized; or
(3) live horse racing was not conducted in 2010 at a
racetrack located within 3 miles of the Mississippi River
under a license issued pursuant to the Illinois Horse
Racing Act of 1975.
The transfer of an organization gaming license,
organization license, or racetrack property by a person other
than the initial licensee to receive the organization gaming
license is not subject to a surcharge. The Department shall
adopt rules necessary to implement and administer this
subsection.
(c) Personal Property Tax Replacement Income Tax.
Beginning on July 1, 1979 and thereafter, in addition to such
income tax, there is also hereby imposed the Personal Property
Tax Replacement Income Tax measured by net income on every
corporation (including Subchapter S corporations), partnership
and trust, for each taxable year ending after June 30, 1979.
Such taxes are imposed on the privilege of earning or
receiving income in or as a resident of this State. The
Personal Property Tax Replacement Income Tax shall be in
addition to the income tax imposed by subsections (a) and (b)
of this Section and in addition to all other occupation or
privilege taxes imposed by this State or by any municipal
corporation or political subdivision thereof.

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(d) Additional Personal Property Tax Replacement Income
Tax Rates. The personal property tax replacement income tax
imposed by this subsection and subsection (c) of this Section
in the case of a corporation, other than a Subchapter S
corporation and except as adjusted by subsection (d-1), shall
be an additional amount equal to 2.85% of such taxpayer's net
income for the taxable year, except that beginning on January
1, 1981, and thereafter, the rate of 2.85% specified in this
subsection shall be reduced to 2.5%, and in the case of a
partnership, trust or a Subchapter S corporation shall be an
additional amount equal to 1.5% of such taxpayer's net income
for the taxable year.
(d-1) Rate reduction for certain foreign insurers. In the
case of a foreign insurer, as defined by Section 35A-5 of the
Illinois Insurance Code, whose state or country of domicile
imposes on insurers domiciled in Illinois a retaliatory tax
(excluding any insurer whose premiums from reinsurance assumed
are 50% or more of its total insurance premiums as determined
under paragraph (2) of subsection (b) of Section 304, except
that for purposes of this determination premiums from
reinsurance do not include premiums from inter-affiliate
reinsurance arrangements), beginning with taxable years ending
on or after December 31, 1999, the sum of the rates of tax
imposed by subsections (b) and (d) shall be reduced (but not
increased) to the rate at which the total amount of tax imposed
under this Act, net of all credits allowed under this Act,

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shall equal (i) the total amount of tax that would be imposed
on the foreign insurer's net income allocable to Illinois for
the taxable year by such foreign insurer's state or country of
domicile if that net income were subject to all income taxes
and taxes measured by net income imposed by such foreign
insurer's state or country of domicile, net of all credits
allowed or (ii) a rate of zero if no such tax is imposed on
such income by the foreign insurer's state of domicile. For
the purposes of this subsection (d-1), an inter-affiliate
includes a mutual insurer under common management.
(1) For the purposes of subsection (d-1), in no event
shall the sum of the rates of tax imposed by subsections
(b) and (d) be reduced below the rate at which the sum of:
(A) the total amount of tax imposed on such
foreign insurer under this Act for a taxable year, net
of all credits allowed under this Act, plus
(B) the privilege tax imposed by Section 409 of
the Illinois Insurance Code, the fire insurance
company tax imposed by Section 12 of the Fire
Investigation Act, and the fire department taxes
imposed under Section 11-10-1 of the Illinois
Municipal Code,
equals 1.25% for taxable years ending prior to December
31, 2003, or 1.75% for taxable years ending on or after
December 31, 2003, of the net taxable premiums written for
the taxable year, as described by subsection (1) of

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Section 409 of the Illinois Insurance Code. This paragraph
will in no event increase the rates imposed under
subsections (b) and (d).
(2) Any reduction in the rates of tax imposed by this
subsection shall be applied first against the rates
imposed by subsection (b) and only after the tax imposed
by subsection (a) net of all credits allowed under this
Section other than the credit allowed under subsection (i)
has been reduced to zero, against the rates imposed by
subsection (d).
This subsection (d-1) is exempt from the provisions of
Section 250.
(e) Investment credit. A taxpayer shall be allowed a
credit against the Personal Property Tax Replacement Income
Tax for investment in qualified property.
(1) A taxpayer shall be allowed a credit equal to .5%
of the basis of qualified property placed in service
during the taxable year, provided such property is placed
in service on or after July 1, 1984. There shall be allowed
an additional credit equal to .5% of the basis of
qualified property placed in service during the taxable
year, provided such property is placed in service on or
after July 1, 1986, and the taxpayer's base employment
within Illinois has increased by 1% or more over the
preceding year as determined by the taxpayer's employment
records filed with the Illinois Department of Employment

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Security. Taxpayers who are new to Illinois shall be
deemed to have met the 1% growth in base employment for the
first year in which they file employment records with the
Illinois Department of Employment Security. The provisions
added to this Section by Public Act 85-1200 (and restored
by Public Act 87-895) shall be construed as declaratory of
existing law and not as a new enactment. If, in any year,
the increase in base employment within Illinois over the
preceding year is less than 1%, the additional credit
shall be limited to that percentage times a fraction, the
numerator of which is .5% and the denominator of which is
1%, but shall not exceed .5%. The investment credit shall
not be allowed to the extent that it would reduce a
taxpayer's liability in any tax year below zero, nor may
any credit for qualified property be allowed for any year
other than the year in which the property was placed in
service in Illinois. For tax years ending on or after
December 31, 1987, and on or before December 31, 1988, the
credit shall be allowed for the tax year in which the
property is placed in service, or, if the amount of the
credit exceeds the tax liability for that year, whether it
exceeds the original liability or the liability as later
amended, such excess may be carried forward and applied to
the tax liability of the 5 taxable years following the
excess credit years if the taxpayer (i) makes investments
which cause the creation of a minimum of 2,000 full-time

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equivalent jobs in Illinois, (ii) is located in an
enterprise zone established pursuant to the Illinois
Enterprise Zone Act and (iii) is certified by the
Department of Commerce and Community Affairs (now
Department of Commerce and Economic Opportunity) as
complying with the requirements specified in clause (i)
and (ii) by July 1, 1986. The Department of Commerce and
Community Affairs (now Department of Commerce and Economic
Opportunity) shall notify the Department of Revenue of all
such certifications immediately. For tax years ending
after December 31, 1988, the credit shall be allowed for
the tax year in which the property is placed in service,
or, if the amount of the credit exceeds the tax liability
for that year, whether it exceeds the original liability
or the liability as later amended, such excess may be
carried forward and applied to the tax liability of the 5
taxable years following the excess credit years. The
credit shall be applied to the earliest year for which
there is a liability. If there is credit from more than one
tax year that is available to offset a liability, earlier
credit shall be applied first.
(2) The term "qualified property" means property
which:
(A) is tangible, whether new or used, including
buildings and structural components of buildings and
signs that are real property, but not including land

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or improvements to real property that are not a
structural component of a building such as
landscaping, sewer lines, local access roads, fencing,
parking lots, and other appurtenances;
(B) is depreciable pursuant to Section 167 of the
Internal Revenue Code, except that "3-year property"
as defined in Section 168(c)(2)(A) of that Code is not
eligible for the credit provided by this subsection
(e);
(C) is acquired by purchase as defined in Section
179(d) of the Internal Revenue Code;
(D) is used in Illinois by a taxpayer who is
primarily engaged in manufacturing, or in mining coal
or fluorite, or in retailing, or was placed in service
on or after July 1, 2006 in a River Edge Redevelopment
Zone established pursuant to the River Edge
Redevelopment Zone Act; and
(E) has not previously been used in Illinois in
such a manner and by such a person as would qualify for
the credit provided by this subsection (e) or
subsection (f).
(3) For purposes of this subsection (e),
"manufacturing" means the material staging and production
of tangible personal property by procedures commonly
regarded as manufacturing, processing, fabrication, or
assembling which changes some existing material into new

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shapes, new qualities, or new combinations. For purposes
of this subsection (e) the term "mining" shall have the
same meaning as the term "mining" in Section 613(c) of the
Internal Revenue Code. For purposes of this subsection
(e), the term "retailing" means the sale of tangible
personal property for use or consumption and not for
resale, or services rendered in conjunction with the sale
of tangible personal property for use or consumption and
not for resale. For purposes of this subsection (e),
"tangible personal property" has the same meaning as when
that term is used in the Retailers' Occupation Tax Act,
and, for taxable years ending after December 31, 2008,
does not include the generation, transmission, or
distribution of electricity.
(4) The basis of qualified property shall be the basis
used to compute the depreciation deduction for federal
income tax purposes.
(5) If the basis of the property for federal income
tax depreciation purposes is increased after it has been
placed in service in Illinois by the taxpayer, the amount
of such increase shall be deemed property placed in
service on the date of such increase in basis.
(6) The term "placed in service" shall have the same
meaning as under Section 46 of the Internal Revenue Code.
(7) If during any taxable year, any property ceases to
be qualified property in the hands of the taxpayer within

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48 months after being placed in service, or the situs of
any qualified property is moved outside Illinois within 48
months after being placed in service, the Personal
Property Tax Replacement Income Tax for such taxable year
shall be increased. Such increase shall be determined by
(i) recomputing the investment credit which would have
been allowed for the year in which credit for such
property was originally allowed by eliminating such
property from such computation and, (ii) subtracting such
recomputed credit from the amount of credit previously
allowed. For the purposes of this paragraph (7), a
reduction of the basis of qualified property resulting
from a redetermination of the purchase price shall be
deemed a disposition of qualified property to the extent
of such reduction.
(8) Unless the investment credit is extended by law,
the basis of qualified property shall not include costs
incurred after December 31, 2018, except for costs
incurred pursuant to a binding contract entered into on or
before December 31, 2018.
(9) Each taxable year ending before December 31, 2000,
a partnership may elect to pass through to its partners
the credits to which the partnership is entitled under
this subsection (e) for the taxable year. A partner may
use the credit allocated to him or her under this
paragraph only against the tax imposed in subsections (c)

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and (d) of this Section. If the partnership makes that
election, those credits shall be allocated among the
partners in the partnership in accordance with the rules
set forth in Section 704(b) of the Internal Revenue Code,
and the rules promulgated under that Section, and the
allocated amount of the credits shall be allowed to the
partners for that taxable year. The partnership shall make
this election on its Personal Property Tax Replacement
Income Tax return for that taxable year. The election to
pass through the credits shall be irrevocable.
For taxable years ending on or after December 31,
2000, a partner that qualifies its partnership for a
subtraction under subparagraph (I) of paragraph (2) of
subsection (d) of Section 203 or a shareholder that
qualifies a Subchapter S corporation for a subtraction
under subparagraph (S) of paragraph (2) of subsection (b)
of Section 203 shall be allowed a credit under this
subsection (e) equal to its share of the credit earned
under this subsection (e) during the taxable year by the
partnership or Subchapter S corporation, determined in
accordance with the determination of income and
distributive share of income under Sections 702 and 704
and Subchapter S of the Internal Revenue Code. This
paragraph is exempt from the provisions of Section 250.
(f) Investment credit; Enterprise Zone; River Edge
Redevelopment Zone.

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(1) A taxpayer shall be allowed a credit against the
tax imposed by subsections (a) and (b) of this Section for
investment in qualified property which is placed in
service in an Enterprise Zone created pursuant to the
Illinois Enterprise Zone Act or, for property placed in
service on or after July 1, 2006, a River Edge
Redevelopment Zone established pursuant to the River Edge
Redevelopment Zone Act. For partners, shareholders of
Subchapter S corporations, and owners of limited liability
companies, if the liability company is treated as a
partnership for purposes of federal and State income
taxation, there shall be allowed a credit under this
subsection (f) to be determined in accordance with the
determination of income and distributive share of income
under Sections 702 and 704 and Subchapter S of the
Internal Revenue Code. The credit shall be .5% of the
basis for such property. The credit shall be available
only in the taxable year in which the property is placed in
service in the Enterprise Zone or River Edge Redevelopment
Zone and shall not be allowed to the extent that it would
reduce a taxpayer's liability for the tax imposed by
subsections (a) and (b) of this Section to below zero. For
tax years ending on or after December 31, 1985, the credit
shall be allowed for the tax year in which the property is
placed in service, or, if the amount of the credit exceeds
the tax liability for that year, whether it exceeds the

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original liability or the liability as later amended, such
excess may be carried forward and applied to the tax
liability of the 5 taxable years following the excess
credit year. The credit shall be applied to the earliest
year for which there is a liability. If there is credit
from more than one tax year that is available to offset a
liability, the credit accruing first in time shall be
applied first.
(2) The term qualified property means property which:
(A) is tangible, whether new or used, including
buildings and structural components of buildings;
(B) is depreciable pursuant to Section 167 of the
Internal Revenue Code, except that "3-year property"
as defined in Section 168(c)(2)(A) of that Code is not
eligible for the credit provided by this subsection
(f);
(C) is acquired by purchase as defined in Section
179(d) of the Internal Revenue Code;
(D) is used in the Enterprise Zone or River Edge
Redevelopment Zone by the taxpayer; and
(E) has not been previously used in Illinois in
such a manner and by such a person as would qualify for
the credit provided by this subsection (f) or
subsection (e).
(3) The basis of qualified property shall be the basis
used to compute the depreciation deduction for federal

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income tax purposes.
(4) If the basis of the property for federal income
tax depreciation purposes is increased after it has been
placed in service in the Enterprise Zone or River Edge
Redevelopment Zone by the taxpayer, the amount of such
increase shall be deemed property placed in service on the
date of such increase in basis.
(5) The term "placed in service" shall have the same
meaning as under Section 46 of the Internal Revenue Code.
(6) If during any taxable year, any property ceases to
be qualified property in the hands of the taxpayer within
48 months after being placed in service, or the situs of
any qualified property is moved outside the Enterprise
Zone or River Edge Redevelopment Zone within 48 months
after being placed in service, the tax imposed under
subsections (a) and (b) of this Section for such taxable
year shall be increased. Such increase shall be determined
by (i) recomputing the investment credit which would have
been allowed for the year in which credit for such
property was originally allowed by eliminating such
property from such computation, and (ii) subtracting such
recomputed credit from the amount of credit previously
allowed. For the purposes of this paragraph (6), a
reduction of the basis of qualified property resulting
from a redetermination of the purchase price shall be
deemed a disposition of qualified property to the extent

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of such reduction.
(7) There shall be allowed an additional credit equal
to 0.5% of the basis of qualified property placed in
service during the taxable year in a River Edge
Redevelopment Zone, provided such property is placed in
service on or after July 1, 2006, and the taxpayer's base
employment within Illinois has increased by 1% or more
over the preceding year as determined by the taxpayer's
employment records filed with the Illinois Department of
Employment Security. Taxpayers who are new to Illinois
shall be deemed to have met the 1% growth in base
employment for the first year in which they file
employment records with the Illinois Department of
Employment Security. If, in any year, the increase in base
employment within Illinois over the preceding year is less
than 1%, the additional credit shall be limited to that
percentage times a fraction, the numerator of which is
0.5% and the denominator of which is 1%, but shall not
exceed 0.5%.
(8) For taxable years beginning on or after January 1,
2021, there shall be allowed an Enterprise Zone
construction jobs credit against the taxes imposed under
subsections (a) and (b) of this Section as provided in
Section 13 of the Illinois Enterprise Zone Act.
The credit or credits may not reduce the taxpayer's
liability to less than zero. If the amount of the credit or

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credits exceeds the taxpayer's liability, the excess may
be carried forward and applied against the taxpayer's
liability in succeeding calendar years in the same manner
provided under paragraph (4) of Section 211 of this Act.
The credit or credits shall be applied to the earliest
year for which there is a tax liability. If there are
credits from more than one taxable year that are available
to offset a liability, the earlier credit shall be applied
first.
For partners, shareholders of Subchapter S
corporations, and owners of limited liability companies,
if the liability company is treated as a partnership for
the purposes of federal and State income taxation, there
shall be allowed a credit under this Section to be
determined in accordance with the determination of income
and distributive share of income under Sections 702 and
704 and Subchapter S of the Internal Revenue Code.
The total aggregate amount of credits awarded under
the Blue Collar Jobs Act (Article 20 of Public Act 101-9)
shall not exceed $20,000,000 in any State fiscal year.
This paragraph (8) is exempt from the provisions of
Section 250.
(g) (Blank).
(h) Investment credit; High Impact Business.
(1) Subject to subsections (b) and (b-5) of Section
5.5 of the Illinois Enterprise Zone Act, a taxpayer shall

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be allowed a credit against the tax imposed by subsections
(a) and (b) of this Section for investment in qualified
property which is placed in service by a Department of
Commerce and Economic Opportunity designated High Impact
Business. The credit shall be .5% of the basis for such
property. The credit shall not be available (i) until the
minimum investments in qualified property set forth in
subdivision (a)(3)(A) of Section 5.5 of the Illinois
Enterprise Zone Act have been satisfied or (ii) until the
time authorized in subsection (b-5) of the Illinois
Enterprise Zone Act for entities designated as High Impact
Businesses under subdivisions (a)(3)(B), (a)(3)(C), and
(a)(3)(D) of Section 5.5 of the Illinois Enterprise Zone
Act, and shall not be allowed to the extent that it would
reduce a taxpayer's liability for the tax imposed by
subsections (a) and (b) of this Section to below zero. The
credit applicable to such investments shall be taken in
the taxable year in which such investments have been
completed. The credit for additional investments beyond
the minimum investment by a designated high impact
business authorized under subdivision (a)(3)(A) of Section
5.5 of the Illinois Enterprise Zone Act shall be available
only in the taxable year in which the property is placed in
service and shall not be allowed to the extent that it
would reduce a taxpayer's liability for the tax imposed by
subsections (a) and (b) of this Section to below zero. For

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tax years ending on or after December 31, 1987, the credit
shall be allowed for the tax year in which the property is
placed in service, or, if the amount of the credit exceeds
the tax liability for that year, whether it exceeds the
original liability or the liability as later amended, such
excess may be carried forward and applied to the tax
liability of the 5 taxable years following the excess
credit year. The credit shall be applied to the earliest
year for which there is a liability. If there is credit
from more than one tax year that is available to offset a
liability, the credit accruing first in time shall be
applied first.
Changes made in this subdivision (h)(1) by Public Act
88-670 restore changes made by Public Act 85-1182 and
reflect existing law.
(2) The term qualified property means property which:
(A) is tangible, whether new or used, including
buildings and structural components of buildings;
(B) is depreciable pursuant to Section 167 of the
Internal Revenue Code, except that "3-year property"
as defined in Section 168(c)(2)(A) of that Code is not
eligible for the credit provided by this subsection
(h);
(C) is acquired by purchase as defined in Section
179(d) of the Internal Revenue Code; and
(D) is not eligible for the Enterprise Zone

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Investment Credit provided by subsection (f) of this
Section.
(3) The basis of qualified property shall be the basis
used to compute the depreciation deduction for federal
income tax purposes.
(4) If the basis of the property for federal income
tax depreciation purposes is increased after it has been
placed in service in a federally designated Foreign Trade
Zone or Sub-Zone located in Illinois by the taxpayer, the
amount of such increase shall be deemed property placed in
service on the date of such increase in basis.
(5) The term "placed in service" shall have the same
meaning as under Section 46 of the Internal Revenue Code.
(6) If during any taxable year ending on or before
December 31, 1996, any property ceases to be qualified
property in the hands of the taxpayer within 48 months
after being placed in service, or the situs of any
qualified property is moved outside Illinois within 48
months after being placed in service, the tax imposed
under subsections (a) and (b) of this Section for such
taxable year shall be increased. Such increase shall be
determined by (i) recomputing the investment credit which
would have been allowed for the year in which credit for
such property was originally allowed by eliminating such
property from such computation, and (ii) subtracting such
recomputed credit from the amount of credit previously

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allowed. For the purposes of this paragraph (6), a
reduction of the basis of qualified property resulting
from a redetermination of the purchase price shall be
deemed a disposition of qualified property to the extent
of such reduction.
(7) Beginning with tax years ending after December 31,
1996, if a taxpayer qualifies for the credit under this
subsection (h) and thereby is granted a tax abatement and
the taxpayer relocates its entire facility in violation of
the explicit terms and length of the contract under
Section 18-183 of the Property Tax Code, the tax imposed
under subsections (a) and (b) of this Section shall be
increased for the taxable year in which the taxpayer
relocated its facility by an amount equal to the amount of
credit received by the taxpayer under this subsection (h).
(h-5) High Impact Business construction jobs credit. For
taxable years beginning on or after January 1, 2021, there
shall also be allowed a High Impact Business construction jobs
credit against the tax imposed under subsections (a) and (b)
of this Section as provided in subsections (i) and (j) of
Section 5.5 of the Illinois Enterprise Zone Act.
The credit or credits may not reduce the taxpayer's
liability to less than zero. If the amount of the credit or
credits exceeds the taxpayer's liability, the excess may be
carried forward and applied against the taxpayer's liability
in succeeding calendar years in the manner provided under

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paragraph (4) of Section 211 of this Act. The credit or credits
shall be applied to the earliest year for which there is a tax
liability. If there are credits from more than one taxable
year that are available to offset a liability, the earlier
credit shall be applied first.
For partners, shareholders of Subchapter S corporations,
and owners of limited liability companies, if the liability
company is treated as a partnership for the purposes of
federal and State income taxation, there shall be allowed a
credit under this Section to be determined in accordance with
the determination of income and distributive share of income
under Sections 702 and 704 and Subchapter S of the Internal
Revenue Code.
The total aggregate amount of credits awarded under the
Blue Collar Jobs Act (Article 20 of Public Act 101-9) shall not
exceed $20,000,000 in any State fiscal year.
This subsection (h-5) is exempt from the provisions of
Section 250.
(i) Credit for Personal Property Tax Replacement Income
Tax. For tax years ending prior to December 31, 2003, a credit
shall be allowed against the tax imposed by subsections (a)
and (b) of this Section for the tax imposed by subsections (c)
and (d) of this Section. This credit shall be computed by
multiplying the tax imposed by subsections (c) and (d) of this
Section by a fraction, the numerator of which is base income
allocable to Illinois and the denominator of which is Illinois

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base income, and further multiplying the product by the tax
rate imposed by subsections (a) and (b) of this Section.
Any credit earned on or after December 31, 1986 under this
subsection which is unused in the year the credit is computed
because it exceeds the tax liability imposed by subsections
(a) and (b) for that year (whether it exceeds the original
liability or the liability as later amended) may be carried
forward and applied to the tax liability imposed by
subsections (a) and (b) of the 5 taxable years following the
excess credit year, provided that no credit may be carried
forward to any year ending on or after December 31, 2003. This
credit shall be applied first to the earliest year for which
there is a liability. If there is a credit under this
subsection from more than one tax year that is available to
offset a liability the earliest credit arising under this
subsection shall be applied first.
If, during any taxable year ending on or after December
31, 1986, the tax imposed by subsections (c) and (d) of this
Section for which a taxpayer has claimed a credit under this
subsection (i) is reduced, the amount of credit for such tax
shall also be reduced. Such reduction shall be determined by
recomputing the credit to take into account the reduced tax
imposed by subsections (c) and (d). If any portion of the
reduced amount of credit has been carried to a different
taxable year, an amended return shall be filed for such
taxable year to reduce the amount of credit claimed.

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(j) Training expense credit. Beginning with tax years
ending on or after December 31, 1986 and prior to December 31,
2003, a taxpayer shall be allowed a credit against the tax
imposed by subsections (a) and (b) under this Section for all
amounts paid or accrued, on behalf of all persons employed by
the taxpayer in Illinois or Illinois residents employed
outside of Illinois by a taxpayer, for educational or
vocational training in semi-technical or technical fields or
semi-skilled or skilled fields, which were deducted from gross
income in the computation of taxable income. The credit
against the tax imposed by subsections (a) and (b) shall be
1.6% of such training expenses. For partners, shareholders of
subchapter S corporations, and owners of limited liability
companies, if the liability company is treated as a
partnership for purposes of federal and State income taxation,
there shall be allowed a credit under this subsection (j) to be
determined in accordance with the determination of income and
distributive share of income under Sections 702 and 704 and
subchapter S of the Internal Revenue Code.
Any credit allowed under this subsection which is unused
in the year the credit is earned may be carried forward to each
of the 5 taxable years following the year for which the credit
is first computed until it is used. This credit shall be
applied first to the earliest year for which there is a
liability. If there is a credit under this subsection from
more than one tax year that is available to offset a liability,

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the earliest credit arising under this subsection shall be
applied first. No carryforward credit may be claimed in any
tax year ending on or after December 31, 2003.
(k) Research and development credit. For tax years ending
after July 1, 1990 and prior to December 31, 2003, and
beginning again for tax years ending on or after December 31,
2004, and ending prior to January 1, 2037 January 1, 2027, a
taxpayer shall be allowed a credit against the tax imposed by
subsections (a) and (b) of this Section for increasing
research activities in this State. The credit allowed against
the tax imposed by subsections (a) and (b) shall be equal to 6
1/2% of the qualifying expenditures for increasing research
activities in this State, except that, in the case of
qualifying quantum information science expenditures, the
credit allowed against the tax imposed by subsections (a) and
(b) of this Section shall be equal to 13% of the qualifying
expenditures for increasing research activities in this State.
For partners, shareholders of subchapter S corporations, and
owners of limited liability companies, if the liability
company is treated as a partnership for purposes of federal
and State income taxation, there shall be allowed a credit
under this subsection to be determined in accordance with the
determination of income and distributive share of income under
Sections 702 and 704 and subchapter S of the Internal Revenue
Code.
In lieu of the credit allowed under this subsection (k)

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against taxes imposed pursuant to subsections (a) and (b) of
this Section, for any taxable year ending after December 31,
2023, a qualified startup taxpayer may elect to claim the
credit against its obligation to pay over withholding taxes
under Section 704A. However, the taxpayer may not make such an
election for a taxable year if the taxpayer has an Illinois
income tax liability for that taxable year with respect to the
taxes imposed pursuant to subsections (a) and (b) of Section
201 of this Act against which the taxpayer may claim the credit
under this subsection (k).
As used in For purposes of this subsection: ,
"Business entity" means a corporation, association,
partnership, limited liability company, or other legal
entity.
"Qualified startup taxpayer" means a business entity
that (i) was incorporated or organized no more than 5
years before the first day of the taxable year for which
the credit is sought, (ii) has never had any Illinois
income tax liability, excluding any Illinois income tax
liability of a related member, which shall not be
attributed to the startup taxpayer, and (iii) otherwise
meets the requirements of this subsection (k).
"Qualifying "qualifying expenditures" means the
qualifying expenditures as defined for the federal credit
for increasing research activities which would be
allowable under Section 41 of the Internal Revenue Code

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and which are conducted in this State. ,
"Qualifying "qualifying expenditures for increasing
research activities in this State" means the excess of
qualifying expenditures for the taxable year in which
incurred over qualifying expenditures for the base period.
,
"Qualifying "qualifying expenditures for the base
period" means the average of the qualifying expenditures
for each year in the base period, and "base period" means
the 3 taxable years immediately preceding the taxable year
for which the determination is being made.
"Qualifying quantum information science expenditures"
means qualifying expenditures in quantum information
science, as that term is defined in Section 2 of the
federal National Quantum Initiative Act.
"Related member" has the meaning given to the term in
Section 5-5 of the Economic Development for a Growing
Economy Tax Credit Act.
Any credit in excess of the tax liability for the taxable
year may be carried forward. A taxpayer may elect to have the
unused credit shown on its final completed return carried over
as a credit against the tax liability for the following 5
taxable years or until it has been fully used, whichever
occurs first; provided that no credit earned in a tax year
ending prior to December 31, 2003 may be carried forward to any
year ending on or after December 31, 2003.

HB1578 - 32 - LRB103 04639 HLH 49647 b
If an unused credit is carried forward to a given year from
2 or more earlier years, that credit arising in the earliest
year will be applied first against the tax liability for the
given year. If a tax liability for the given year still
remains, the credit from the next earliest year will then be
applied, and so on, until all credits have been used or no tax
liability for the given year remains. Any remaining unused
credit or credits then will be carried forward to the next
following year in which a tax liability is incurred, except
that no credit can be carried forward to a year which is more
than 5 years after the year in which the expense for which the
credit is given was incurred.
If the taxpayer makes qualifying quantum information
science expenditures, and the credit claimed under this
subsection exceeds the taxpayer's Illinois income tax
liability, then 90% of the excess credit amount may be
refunded to the taxpayer in accordance with rules adopted by
the Department. If the excess credit amount is refunded to the
taxpayer, then the portion of the excess credit amount that is
refunded to the taxpayer may not be carried forward and may not
be taken against the taxpayer's obligations to pay withholding
taxes under Section 704A.
No inference shall be drawn from Public Act 91-644 in
construing this Section for taxable years beginning before
January 1, 1999.
It is the intent of the General Assembly that the research

HB1578 - 33 - LRB103 04639 HLH 49647 b
and development credit under this subsection (k) shall apply
continuously for all tax years ending on or after December 31,
2004 and ending prior to January 1, 2027, including, but not
limited to, the period beginning on January 1, 2016 and ending
on July 6, 2017 (the effective date of Public Act 100-22). All
actions taken in reliance on the continuation of the credit
under this subsection (k) by any taxpayer are hereby
validated.
(l) Environmental Remediation Tax Credit.
(i) For tax years ending after December 31, 1997 and
on or before December 31, 2001, a taxpayer shall be
allowed a credit against the tax imposed by subsections
(a) and (b) of this Section for certain amounts paid for
unreimbursed eligible remediation costs, as specified in
this subsection. For purposes of this Section,
"unreimbursed eligible remediation costs" means costs
approved by the Illinois Environmental Protection Agency
("Agency") under Section 58.14 of the Environmental
Protection Act that were paid in performing environmental
remediation at a site for which a No Further Remediation
Letter was issued by the Agency and recorded under Section
58.10 of the Environmental Protection Act. The credit must
be claimed for the taxable year in which Agency approval
of the eligible remediation costs is granted. The credit
is not available to any taxpayer if the taxpayer or any
related party caused or contributed to, in any material

HB1578 - 34 - LRB103 04639 HLH 49647 b
respect, a release of regulated substances on, in, or
under the site that was identified and addressed by the
remedial action pursuant to the Site Remediation Program
of the Environmental Protection Act. After the Pollution
Control Board rules are adopted pursuant to the Illinois
Administrative Procedure Act for the administration and
enforcement of Section 58.9 of the Environmental
Protection Act, determinations as to credit availability
for purposes of this Section shall be made consistent with
those rules. For purposes of this Section, "taxpayer"
includes a person whose tax attributes the taxpayer has
succeeded to under Section 381 of the Internal Revenue
Code and "related party" includes the persons disallowed a
deduction for losses by paragraphs (b), (c), and (f)(1) of
Section 267 of the Internal Revenue Code by virtue of
being a related taxpayer, as well as any of its partners.
The credit allowed against the tax imposed by subsections
(a) and (b) shall be equal to 25% of the unreimbursed
eligible remediation costs in excess of $100,000 per site,
except that the $100,000 threshold shall not apply to any
site contained in an enterprise zone as determined by the
Department of Commerce and Community Affairs (now
Department of Commerce and Economic Opportunity). The
total credit allowed shall not exceed $40,000 per year
with a maximum total of $150,000 per site. For partners
and shareholders of subchapter S corporations, there shall

HB1578 - 35 - LRB103 04639 HLH 49647 b
be allowed a credit under this subsection to be determined
in accordance with the determination of income and
distributive share of income under Sections 702 and 704
and subchapter S of the Internal Revenue Code.
(ii) A credit allowed under this subsection that is
unused in the year the credit is earned may be carried
forward to each of the 5 taxable years following the year
for which the credit is first earned until it is used. The
term "unused credit" does not include any amounts of
unreimbursed eligible remediation costs in excess of the
maximum credit per site authorized under paragraph (i).
This credit shall be applied first to the earliest year
for which there is a liability. If there is a credit under
this subsection from more than one tax year that is
available to offset a liability, the earliest credit
arising under this subsection shall be applied first. A
credit allowed under this subsection may be sold to a
buyer as part of a sale of all or part of the remediation
site for which the credit was granted. The purchaser of a
remediation site and the tax credit shall succeed to the
unused credit and remaining carry-forward period of the
seller. To perfect the transfer, the assignor shall record
the transfer in the chain of title for the site and provide
written notice to the Director of the Illinois Department
of Revenue of the assignor's intent to sell the
remediation site and the amount of the tax credit to be

HB1578 - 36 - LRB103 04639 HLH 49647 b
transferred as a portion of the sale. In no event may a
credit be transferred to any taxpayer if the taxpayer or a
related party would not be eligible under the provisions
of subsection (i).
(iii) For purposes of this Section, the term "site"
shall have the same meaning as under Section 58.2 of the
Environmental Protection Act.
(m) Education expense credit. Beginning with tax years
ending after December 31, 1999, a taxpayer who is the
custodian of one or more qualifying pupils shall be allowed a
credit against the tax imposed by subsections (a) and (b) of
this Section for qualified education expenses incurred on
behalf of the qualifying pupils. The credit shall be equal to
25% of qualified education expenses, but in no event may the
total credit under this subsection claimed by a family that is
the custodian of qualifying pupils exceed (i) $500 for tax
years ending prior to December 31, 2017, and (ii) $750 for tax
years ending on or after December 31, 2017. In no event shall a
credit under this subsection reduce the taxpayer's liability
under this Act to less than zero. Notwithstanding any other
provision of law, for taxable years beginning on or after
January 1, 2017, no taxpayer may claim a credit under this
subsection (m) if the taxpayer's adjusted gross income for the
taxable year exceeds (i) $500,000, in the case of spouses
filing a joint federal tax return or (ii) $250,000, in the case
of all other taxpayers. This subsection is exempt from the

HB1578 - 37 - LRB103 04639 HLH 49647 b
provisions of Section 250 of this Act.
For purposes of this subsection:
"Qualifying pupils" means individuals who (i) are
residents of the State of Illinois, (ii) are under the age of
21 at the close of the school year for which a credit is
sought, and (iii) during the school year for which a credit is
sought were full-time pupils enrolled in a kindergarten
through twelfth grade education program at any school, as
defined in this subsection.
"Qualified education expense" means the amount incurred on
behalf of a qualifying pupil in excess of $250 for tuition,
book fees, and lab fees at the school in which the pupil is
enrolled during the regular school year.
"School" means any public or nonpublic elementary or
secondary school in Illinois that is in compliance with Title
VI of the Civil Rights Act of 1964 and attendance at which
satisfies the requirements of Section 26-1 of the School Code,
except that nothing shall be construed to require a child to
attend any particular public or nonpublic school to qualify
for the credit under this Section.
"Custodian" means, with respect to qualifying pupils, an
Illinois resident who is a parent, the parents, a legal
guardian, or the legal guardians of the qualifying pupils.
(n) River Edge Redevelopment Zone site remediation tax
credit.
(i) For tax years ending on or after December 31,

HB1578 - 38 - LRB103 04639 HLH 49647 b
2006, a taxpayer shall be allowed a credit against the tax
imposed by subsections (a) and (b) of this Section for
certain amounts paid for unreimbursed eligible remediation
costs, as specified in this subsection. For purposes of
this Section, "unreimbursed eligible remediation costs"
means costs approved by the Illinois Environmental
Protection Agency ("Agency") under Section 58.14a of the
Environmental Protection Act that were paid in performing
environmental remediation at a site within a River Edge
Redevelopment Zone for which a No Further Remediation
Letter was issued by the Agency and recorded under Section
58.10 of the Environmental Protection Act. The credit must
be claimed for the taxable year in which Agency approval
of the eligible remediation costs is granted. The credit
is not available to any taxpayer if the taxpayer or any
related party caused or contributed to, in any material
respect, a release of regulated substances on, in, or
under the site that was identified and addressed by the
remedial action pursuant to the Site Remediation Program
of the Environmental Protection Act. Determinations as to
credit availability for purposes of this Section shall be
made consistent with rules adopted by the Pollution
Control Board pursuant to the Illinois Administrative
Procedure Act for the administration and enforcement of
Section 58.9 of the Environmental Protection Act. For
purposes of this Section, "taxpayer" includes a person

HB1578 - 39 - LRB103 04639 HLH 49647 b
whose tax attributes the taxpayer has succeeded to under
Section 381 of the Internal Revenue Code and "related
party" includes the persons disallowed a deduction for
losses by paragraphs (b), (c), and (f)(1) of Section 267
of the Internal Revenue Code by virtue of being a related
taxpayer, as well as any of its partners. The credit
allowed against the tax imposed by subsections (a) and (b)
shall be equal to 25% of the unreimbursed eligible
remediation costs in excess of $100,000 per site.
(ii) A credit allowed under this subsection that is
unused in the year the credit is earned may be carried
forward to each of the 5 taxable years following the year
for which the credit is first earned until it is used. This
credit shall be applied first to the earliest year for
which there is a liability. If there is a credit under this
subsection from more than one tax year that is available
to offset a liability, the earliest credit arising under
this subsection shall be applied first. A credit allowed
under this subsection may be sold to a buyer as part of a
sale of all or part of the remediation site for which the
credit was granted. The purchaser of a remediation site
and the tax credit shall succeed to the unused credit and
remaining carry-forward period of the seller. To perfect
the transfer, the assignor shall record the transfer in
the chain of title for the site and provide written notice
to the Director of the Illinois Department of Revenue of

HB1578 - 40 - LRB103 04639 HLH 49647 b
the assignor's intent to sell the remediation site and the
amount of the tax credit to be transferred as a portion of
the sale. In no event may a credit be transferred to any
taxpayer if the taxpayer or a related party would not be
eligible under the provisions of subsection (i).
(iii) For purposes of this Section, the term "site"
shall have the same meaning as under Section 58.2 of the
Environmental Protection Act.
(o) For each of taxable years during the Compassionate Use
of Medical Cannabis Program, a surcharge is imposed on all
taxpayers on income arising from the sale or exchange of
capital assets, depreciable business property, real property
used in the trade or business, and Section 197 intangibles of
an organization registrant under the Compassionate Use of
Medical Cannabis Program Act. The amount of the surcharge is
equal to the amount of federal income tax liability for the
taxable year attributable to those sales and exchanges. The
surcharge imposed does not apply if:
(1) the medical cannabis cultivation center
registration, medical cannabis dispensary registration, or
the property of a registration is transferred as a result
of any of the following:
(A) bankruptcy, a receivership, or a debt
adjustment initiated by or against the initial
registration or the substantial owners of the initial
registration;

HB1578 - 41 - LRB103 04639 HLH 49647 b
(B) cancellation, revocation, or termination of
any registration by the Illinois Department of Public
Health;
(C) a determination by the Illinois Department of
Public Health that transfer of the registration is in
the best interests of Illinois qualifying patients as
defined by the Compassionate Use of Medical Cannabis
Program Act;
(D) the death of an owner of the equity interest in
a registrant;
(E) the acquisition of a controlling interest in
the stock or substantially all of the assets of a
publicly traded company;
(F) a transfer by a parent company to a wholly
owned subsidiary; or
(G) the transfer or sale to or by one person to
another person where both persons were initial owners
of the registration when the registration was issued;
or
(2) the cannabis cultivation center registration,
medical cannabis dispensary registration, or the
controlling interest in a registrant's property is
transferred in a transaction to lineal descendants in
which no gain or loss is recognized or as a result of a
transaction in accordance with Section 351 of the Internal
Revenue Code in which no gain or loss is recognized.

HB1578 - 42 - LRB103 04639 HLH 49647 b
(p) Pass-through entity tax.
(1) For taxable years ending on or after December 31,
2021 and beginning prior to January 1, 2026, a partnership
(other than a publicly traded partnership under Section
7704 of the Internal Revenue Code) or Subchapter S
corporation may elect to apply the provisions of this
subsection. A separate election shall be made for each
taxable year. Such election shall be made at such time,
and in such form and manner as prescribed by the
Department, and, once made, is irrevocable.
(2) Entity-level tax. A partnership or Subchapter S
corporation electing to apply the provisions of this
subsection shall be subject to a tax for the privilege of
earning or receiving income in this State in an amount
equal to 4.95% of the taxpayer's net income for the
taxable year.
(3) Net income defined.
(A) In general. For purposes of paragraph (2), the
term net income has the same meaning as defined in
Section 202 of this Act, except that the following
provisions shall not apply:
(i) the standard exemption allowed under
Section 204;
(ii) the deduction for net losses allowed
under Section 207;
(iii) in the case of an S corporation, the

HB1578 - 43 - LRB103 04639 HLH 49647 b
modification under Section 203(b)(2)(S); and
(iv) in the case of a partnership, the
modifications under Section 203(d)(2)(H) and
Section 203(d)(2)(I).
(B) Special rule for tiered partnerships. If a
taxpayer making the election under paragraph (1) is a
partner of another taxpayer making the election under
paragraph (1), net income shall be computed as
provided in subparagraph (A), except that the taxpayer
shall subtract its distributive share of the net
income of the electing partnership (including its
distributive share of the net income of the electing
partnership derived as a distributive share from
electing partnerships in which it is a partner).
(4) Credit for entity level tax. Each partner or
shareholder of a taxpayer making the election under this
Section shall be allowed a credit against the tax imposed
under subsections (a) and (b) of Section 201 of this Act
for the taxable year of the partnership or Subchapter S
corporation for which an election is in effect ending
within or with the taxable year of the partner or
shareholder in an amount equal to 4.95% times the partner
or shareholder's distributive share of the net income of
the electing partnership or Subchapter S corporation, but
not to exceed the partner's or shareholder's share of the
tax imposed under paragraph (1) which is actually paid by

HB1578 - 44 - LRB103 04639 HLH 49647 b
the partnership or Subchapter S corporation. If the
taxpayer is a partnership or Subchapter S corporation that
is itself a partner of a partnership making the election
under paragraph (1), the credit under this paragraph shall
be allowed to the taxpayer's partners or shareholders (or
if the partner is a partnership or Subchapter S
corporation then its partners or shareholders) in
accordance with the determination of income and
distributive share of income under Sections 702 and 704
and Subchapter S of the Internal Revenue Code. If the
amount of the credit allowed under this paragraph exceeds
the partner's or shareholder's liability for tax imposed
under subsections (a) and (b) of Section 201 of this Act
for the taxable year, such excess shall be treated as an
overpayment for purposes of Section 909 of this Act.
(5) Nonresidents. A nonresident individual who is a
partner or shareholder of a partnership or Subchapter S
corporation for a taxable year for which an election is in
effect under paragraph (1) shall not be required to file
an income tax return under this Act for such taxable year
if the only source of net income of the individual (or the
individual and the individual's spouse in the case of a
joint return) is from an entity making the election under
paragraph (1) and the credit allowed to the partner or
shareholder under paragraph (4) equals or exceeds the
individual's liability for the tax imposed under

HB1578 - 45 - LRB103 04639 HLH 49647 b
subsections (a) and (b) of Section 201 of this Act for the
taxable year.
(6) Liability for tax. Except as provided in this
paragraph, a partnership or Subchapter S making the
election under paragraph (1) is liable for the
entity-level tax imposed under paragraph (2). If the
electing partnership or corporation fails to pay the full
amount of tax deemed assessed under paragraph (2), the
partners or shareholders shall be liable to pay the tax
assessed (including penalties and interest). Each partner
or shareholder shall be liable for the unpaid assessment
based on the ratio of the partner's or shareholder's share
of the net income of the partnership over the total net
income of the partnership. If the partnership or
Subchapter S corporation fails to pay the tax assessed
(including penalties and interest) and thereafter an
amount of such tax is paid by the partners or
shareholders, such amount shall not be collected from the
partnership or corporation.
(7) Foreign tax. For purposes of the credit allowed
under Section 601(b)(3) of this Act, tax paid by a
partnership or Subchapter S corporation to another state
which, as determined by the Department, is substantially
similar to the tax imposed under this subsection, shall be
considered tax paid by the partner or shareholder to the
extent that the partner's or shareholder's share of the

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income of the partnership or Subchapter S corporation
allocated and apportioned to such other state bears to the
total income of the partnership or Subchapter S
corporation allocated or apportioned to such other state.
(8) Suspension of withholding. The provisions of
Section 709.5 of this Act shall not apply to a partnership
or Subchapter S corporation for the taxable year for which
an election under paragraph (1) is in effect.
(9) Requirement to pay estimated tax. For each taxable
year for which an election under paragraph (1) is in
effect, a partnership or Subchapter S corporation is
required to pay estimated tax for such taxable year under
Sections 803 and 804 of this Act if the amount payable as
estimated tax can reasonably be expected to exceed $500.
(10) The provisions of this subsection shall apply
only with respect to taxable years for which the
limitation on individual deductions applies under Section
164(b)(6) of the Internal Revenue Code.
(Source: P.A. 101-9, eff. 6-5-19; 101-31, eff. 6-28-19;
101-207, eff. 8-2-19; 101-363, eff. 8-9-19; 102-558, eff.
8-20-21; 102-658, eff. 8-27-21.)
(35 ILCS 5/704A)
Sec. 704A. Employer's return and payment of tax withheld.
(a) In general, every employer who deducts and withholds
or is required to deduct and withhold tax under this Act on or

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after January 1, 2008 shall make those payments and returns as
provided in this Section.
(b) Returns. Every employer shall, in the form and manner
required by the Department, make returns with respect to taxes
withheld or required to be withheld under this Article 7 for
each quarter beginning on or after January 1, 2008, on or
before the last day of the first month following the close of
that quarter.
(c) Payments. With respect to amounts withheld or required
to be withheld on or after January 1, 2008:
(1) Semi-weekly payments. For each calendar year, each
employer who withheld or was required to withhold more
than $12,000 during the one-year period ending on June 30
of the immediately preceding calendar year, payment must
be made:
(A) on or before each Friday of the calendar year,
for taxes withheld or required to be withheld on the
immediately preceding Saturday, Sunday, Monday, or
Tuesday;
(B) on or before each Wednesday of the calendar
year, for taxes withheld or required to be withheld on
the immediately preceding Wednesday, Thursday, or
Friday.
Beginning with calendar year 2011, payments made under
this paragraph (1) of subsection (c) must be made by
electronic funds transfer.

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(2) Semi-weekly payments. Any employer who withholds
or is required to withhold more than $12,000 in any
quarter of a calendar year is required to make payments on
the dates set forth under item (1) of this subsection (c)
for each remaining quarter of that calendar year and for
the subsequent calendar year.
(3) Monthly payments. Each employer, other than an
employer described in items (1) or (2) of this subsection,
shall pay to the Department, on or before the 15th day of
each month the taxes withheld or required to be withheld
during the immediately preceding month.
(4) Payments with returns. Each employer shall pay to
the Department, on or before the due date for each return
required to be filed under this Section, any tax withheld
or required to be withheld during the period for which the
return is due and not previously paid to the Department.
(d) Regulatory authority. The Department may, by rule:
(1) Permit employers, in lieu of the requirements of
subsections (b) and (c), to file annual returns due on or
before January 31 of the year for taxes withheld or
required to be withheld during the previous calendar year
and, if the aggregate amounts required to be withheld by
the employer under this Article 7 (other than amounts
required to be withheld under Section 709.5) do not exceed
$1,000 for the previous calendar year, to pay the taxes
required to be shown on each such return no later than the

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due date for such return.
(2) Provide that any payment required to be made under
subsection (c)(1) or (c)(2) is deemed to be timely to the
extent paid by electronic funds transfer on or before the
due date for deposit of federal income taxes withheld
from, or federal employment taxes due with respect to, the
wages from which the Illinois taxes were withheld.
(3) Designate one or more depositories to which
payment of taxes required to be withheld under this
Article 7 must be paid by some or all employers.
(4) Increase the threshold dollar amounts at which
employers are required to make semi-weekly payments under
subsection (c)(1) or (c)(2).
(e) Annual return and payment. Every employer who deducts
and withholds or is required to deduct and withhold tax from a
person engaged in domestic service employment, as that term is
defined in Section 3510 of the Internal Revenue Code, may
comply with the requirements of this Section with respect to
such employees by filing an annual return and paying the taxes
required to be deducted and withheld on or before the 15th day
of the fourth month following the close of the employer's
taxable year. The Department may allow the employer's return
to be submitted with the employer's individual income tax
return or to be submitted with a return due from the employer
under Section 1400.2 of the Unemployment Insurance Act.
(f) Magnetic media and electronic filing. With respect to

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taxes withheld in calendar years prior to 2017, any W-2 Form
that, under the Internal Revenue Code and regulations
promulgated thereunder, is required to be submitted to the
Internal Revenue Service on magnetic media or electronically
must also be submitted to the Department on magnetic media or
electronically for Illinois purposes, if required by the
Department.
With respect to taxes withheld in 2017 and subsequent
calendar years, the Department may, by rule, require that any
return (including any amended return) under this Section and
any W-2 Form that is required to be submitted to the Department
must be submitted on magnetic media or electronically.
The due date for submitting W-2 Forms shall be as
prescribed by the Department by rule.
(g) For amounts deducted or withheld after December 31,
2009, a taxpayer who makes an election under subsection (f) of
Section 5-15 of the Economic Development for a Growing Economy
Tax Credit Act for a taxable year shall be allowed a credit
against payments due under this Section for amounts withheld
during the first calendar year beginning after the end of that
taxable year equal to the amount of the credit for the
incremental income tax attributable to full-time employees of
the taxpayer awarded to the taxpayer by the Department of
Commerce and Economic Opportunity under the Economic
Development for a Growing Economy Tax Credit Act for the
taxable year and credits not previously claimed and allowed to

HB1578 - 51 - LRB103 04639 HLH 49647 b
be carried forward under Section 211(4) of this Act as
provided in subsection (f) of Section 5-15 of the Economic
Development for a Growing Economy Tax Credit Act. The credit
or credits may not reduce the taxpayer's obligation for any
payment due under this Section to less than zero. If the amount
of the credit or credits exceeds the total payments due under
this Section with respect to amounts withheld during the
calendar year, the excess may be carried forward and applied
against the taxpayer's liability under this Section in the
succeeding calendar years as allowed to be carried forward
under paragraph (4) of Section 211 of this Act. The credit or
credits shall be applied to the earliest year for which there
is a tax liability. If there are credits from more than one
taxable year that are available to offset a liability, the
earlier credit shall be applied first. Each employer who
deducts and withholds or is required to deduct and withhold
tax under this Act and who retains income tax withholdings
under subsection (f) of Section 5-15 of the Economic
Development for a Growing Economy Tax Credit Act must make a
return with respect to such taxes and retained amounts in the
form and manner that the Department, by rule, requires and pay
to the Department or to a depositary designated by the
Department those withheld taxes not retained by the taxpayer.
For purposes of this subsection (g), the term taxpayer shall
include taxpayer and members of the taxpayer's unitary
business group as defined under paragraph (27) of subsection

HB1578 - 52 - LRB103 04639 HLH 49647 b
(a) of Section 1501 of this Act. This Section is exempt from
the provisions of Section 250 of this Act. No credit awarded
under the Economic Development for a Growing Economy Tax
Credit Act for agreements entered into on or after January 1,
2015 may be credited against payments due under this Section.
(g-1) For amounts deducted or withheld after December 31,
2024, a taxpayer who makes an election under the Reimagining
Electric Vehicles in Illinois Act shall be allowed a credit
against payments due under this Section for amounts withheld
during the first quarterly reporting period beginning after
the certificate is issued equal to the portion of the REV
Illinois Credit attributable to the incremental income tax
attributable to new employees and retained employees as
certified by the Department of Commerce and Economic
Opportunity pursuant to an agreement with the taxpayer under
the Reimagining Electric Vehicles in Illinois Act for the
taxable year. The credit or credits may not reduce the
taxpayer's obligation for any payment due under this Section
to less than zero. If the amount of the credit or credits
exceeds the total payments due under this Section with respect
to amounts withheld during the quarterly reporting period, the
excess may be carried forward and applied against the
taxpayer's liability under this Section in the succeeding
quarterly reporting period as allowed to be carried forward
under paragraph (4) of Section 211 of this Act. The credit or
credits shall be applied to the earliest quarterly reporting

HB1578 - 53 - LRB103 04639 HLH 49647 b
period for which there is a tax liability. If there are credits
from more than one quarterly reporting period that are
available to offset a liability, the earlier credit shall be
applied first. Each employer who deducts and withholds or is
required to deduct and withhold tax under this Act and who
retains income tax withholdings this subsection must make a
return with respect to such taxes and retained amounts in the
form and manner that the Department, by rule, requires and pay
to the Department or to a depositary designated by the
Department those withheld taxes not retained by the taxpayer.
For purposes of this subsection (g-1), the term taxpayer shall
include taxpayer and members of the taxpayer's unitary
business group as defined under paragraph (27) of subsection
(a) of Section 1501 of this Act. This Section is exempt from
the provisions of Section 250 of this Act.
(g-2) For amounts deducted or withheld after December 31,
2024, a taxpayer who makes an election under the Manufacturing
Illinois Chips for Real Opportunity (MICRO) Act shall be
allowed a credit against payments due under this Section for
amounts withheld during the first quarterly reporting period
beginning after the certificate is issued equal to the portion
of the MICRO Illinois Credit attributable to the incremental
income tax attributable to new employees and retained
employees as certified by the Department of Commerce and
Economic Opportunity pursuant to an agreement with the
taxpayer under the Manufacturing Illinois Chips for Real

HB1578 - 54 - LRB103 04639 HLH 49647 b
Opportunity (MICRO) Act for the taxable year. The credit or
credits may not reduce the taxpayer's obligation for any
payment due under this Section to less than zero. If the amount
of the credit or credits exceeds the total payments due under
this Section with respect to amounts withheld during the
quarterly reporting period, the excess may be carried forward
and applied against the taxpayer's liability under this
Section in the succeeding quarterly reporting period as
allowed to be carried forward under paragraph (4) of Section
211 of this Act. The credit or credits shall be applied to the
earliest quarterly reporting period for which there is a tax
liability. If there are credits from more than one quarterly
reporting period that are available to offset a liability, the
earlier credit shall be applied first. Each employer who
deducts and withholds or is required to deduct and withhold
tax under this Act and who retains income tax withholdings
this subsection must make a return with respect to such taxes
and retained amounts in the form and manner that the
Department, by rule, requires and pay to the Department or to a
depositary designated by the Department those withheld taxes
not retained by the taxpayer. For purposes of this subsection,
the term taxpayer shall include taxpayer and members of the
taxpayer's unitary business group as defined under paragraph
(27) of subsection (a) of Section 1501 of this Act. This
Section is exempt from the provisions of Section 250 of this
Act.

HB1578 - 55 - LRB103 04639 HLH 49647 b
(g-3) A taxpayer who makes an election under subsection
(k) of Section 201 of this Act for a taxable year shall be
allowed a credit against payments due under this Section for
amounts withheld during the first calendar year beginning
after the last day of the taxable year for which the election
is made. The credit against withholding shall be equal to the
amount of the credit allowed under subsection (k) of Section
201 of this Act. The credit or credits may not reduce the
taxpayer's obligation for any payment due under this Section
to less than zero. If the amount of the credit or credits
exceeds the total payments due under this Section with respect
to amounts withheld during the calendar year, the excess may
be carried forward and applied against the taxpayer's
liability under this Section in the succeeding calendar years
as allowed to be carried forward under paragraph (4) of
Section 211 of this Act. The credit or credits shall be applied
to the earliest year for which there is a tax liability. If
there are credits from more than one taxable year that are
available to offset a liability, the earlier credit shall be
applied first. Each employer who deducts and withholds or is
required to deduct and withhold tax under this Act and who
elects to take a credit against taxes imposed under this
Section pursuant to subsection (k) of Section 201 of this Act
must make a return with respect to such taxes and retained
amounts in the form and manner that the Department, by rule,
requires and pay to the Department or to a depositary

HB1578 - 56 - LRB103 04639 HLH 49647 b
designated by the Department those withheld taxes not retained
by the taxpayer.
(h) An employer may claim a credit against payments due
under this Section for amounts withheld during the first
calendar year ending after the date on which a tax credit
certificate was issued under Section 35 of the Small Business
Job Creation Tax Credit Act. The credit shall be equal to the
amount shown on the certificate, but may not reduce the
taxpayer's obligation for any payment due under this Section
to less than zero. If the amount of the credit exceeds the
total payments due under this Section with respect to amounts
withheld during the calendar year, the excess may be carried
forward and applied against the taxpayer's liability under
this Section in the 5 succeeding calendar years. The credit
shall be applied to the earliest year for which there is a tax
liability. If there are credits from more than one calendar
year that are available to offset a liability, the earlier
credit shall be applied first. This Section is exempt from the
provisions of Section 250 of this Act.
(i) Each employer with 50 or fewer full-time equivalent
employees during the reporting period may claim a credit
against the payments due under this Section for each qualified
employee in an amount equal to the maximum credit allowable.
The credit may be taken against payments due for reporting
periods that begin on or after January 1, 2020, and end on or
before December 31, 2027. An employer may not claim a credit

HB1578 - 57 - LRB103 04639 HLH 49647 b
for an employee who has worked fewer than 90 consecutive days
immediately preceding the reporting period; however, such
credits may accrue during that 90-day period and be claimed
against payments under this Section for future reporting
periods after the employee has worked for the employer at
least 90 consecutive days. In no event may the credit exceed
the employer's liability for the reporting period. Each
employer who deducts and withholds or is required to deduct
and withhold tax under this Act and who retains income tax
withholdings under this subsection must make a return with
respect to such taxes and retained amounts in the form and
manner that the Department, by rule, requires and pay to the
Department or to a depositary designated by the Department
those withheld taxes not retained by the employer.
For each reporting period, the employer may not claim a
credit or credits for more employees than the number of
employees making less than the minimum or reduced wage for the
current calendar year during the last reporting period of the
preceding calendar year. Notwithstanding any other provision
of this subsection, an employer shall not be eligible for
credits for a reporting period unless the average wage paid by
the employer per employee for all employees making less than
$55,000 during the reporting period is greater than the
average wage paid by the employer per employee for all
employees making less than $55,000 during the same reporting
period of the prior calendar year.

HB1578 - 58 - LRB103 04639 HLH 49647 b
For purposes of this subsection (i):
"Compensation paid in Illinois" has the meaning ascribed
to that term under Section 304(a)(2)(B) of this Act.
"Employer" and "employee" have the meaning ascribed to
those terms in the Minimum Wage Law, except that "employee"
also includes employees who work for an employer with fewer
than 4 employees. Employers that operate more than one
establishment pursuant to a franchise agreement or that
constitute members of a unitary business group shall aggregate
their employees for purposes of determining eligibility for
the credit.
"Full-time equivalent employees" means the ratio of the
number of paid hours during the reporting period and the
number of working hours in that period.
"Maximum credit" means the percentage listed below of the
difference between the amount of compensation paid in Illinois
to employees who are paid not more than the required minimum
wage reduced by the amount of compensation paid in Illinois to
employees who were paid less than the current required minimum
wage during the reporting period prior to each increase in the
required minimum wage on January 1. If an employer pays an
employee more than the required minimum wage and that employee
previously earned less than the required minimum wage, the
employer may include the portion that does not exceed the
required minimum wage as compensation paid in Illinois to
employees who are paid not more than the required minimum

HB1578 - 59 - LRB103 04639 HLH 49647 b
wage.
(1) 25% for reporting periods beginning on or after
January 1, 2020 and ending on or before December 31, 2020;
(2) 21% for reporting periods beginning on or after
January 1, 2021 and ending on or before December 31, 2021;
(3) 17% for reporting periods beginning on or after
January 1, 2022 and ending on or before December 31, 2022;
(4) 13% for reporting periods beginning on or after
January 1, 2023 and ending on or before December 31, 2023;
(5) 9% for reporting periods beginning on or after
January 1, 2024 and ending on or before December 31, 2024;
(6) 5% for reporting periods beginning on or after
January 1, 2025 and ending on or before December 31, 2025.
The amount computed under this subsection may continue to
be claimed for reporting periods beginning on or after January
1, 2026 and:
(A) ending on or before December 31, 2026 for
employers with more than 5 employees; or
(B) ending on or before December 31, 2027 for
employers with no more than 5 employees.
"Qualified employee" means an employee who is paid not
more than the required minimum wage and has an average wage
paid per hour by the employer during the reporting period
equal to or greater than his or her average wage paid per hour
by the employer during each reporting period for the
immediately preceding 12 months. A new qualified employee is

HB1578 - 60 - LRB103 04639 HLH 49647 b
deemed to have earned the required minimum wage in the
preceding reporting period.
"Reporting period" means the quarter for which a return is
required to be filed under subsection (b) of this Section.
(j) For reporting periods beginning on or after January 1,
2023, if a private employer grants all of its employees the
option of taking a paid leave of absence of at least 30 days
for the purpose of serving as an organ donor or bone marrow
donor, then the private employer may take a credit against the
payments due under this Section in an amount equal to the
amount withheld under this Section with respect to wages paid
while the employee is on organ donation leave, not to exceed
$1,000 in withholdings for each employee who takes organ
donation leave. To be eligible for the credit, such a leave of
absence must be taken without loss of pay, vacation time,
compensatory time, personal days, or sick time for at least
the first 30 days of the leave of absence. The private employer
shall adopt rules governing organ donation leave, including
rules that (i) establish conditions and procedures for
requesting and approving leave and (ii) require medical
documentation of the proposed organ or bone marrow donation
before leave is approved by the private employer. A private
employer must provide, in the manner required by the
Department, documentation from the employee's medical
provider, which the private employer receives from the
employee, that verifies the employee's organ donation. The

HB1578 - 61 - LRB103 04639 HLH 49647 b
private employer must also provide, in the manner required by
the Department, documentation that shows that a qualifying
organ donor leave policy was in place and offered to all
qualifying employees at the time the leave was taken. For the
private employer to receive the tax credit, the employee
taking organ donor leave must allow for the applicable medical
records to be disclosed to the Department. If the private
employer cannot provide the required documentation to the
Department, then the private employer is ineligible for the
credit under this Section. A private employer must also
provide, in the form required by the Department, any
additional documentation or information required by the
Department to administer the credit under this Section. The
credit under this subsection (j) shall be taken within one
year after the date upon which the organ donation leave
begins. If the leave taken spans into a second tax year, the
employer qualifies for the allowable credit in the later of
the 2 years. If the amount of credit exceeds the tax liability
for the year, the excess may be carried and applied to the tax
liability for the 3 taxable years following the excess credit
year. The tax credit shall be applied to the earliest year for
which there is a tax liability. If there are credits for more
than one year that are available to offset liability, the
earlier credit shall be applied first.
Nothing in this subsection (j) prohibits a private
employer from providing an unpaid leave of absence to its

HB1578 - 62 - LRB103 04639 HLH 49647 b
employees for the purpose of serving as an organ donor or bone
marrow donor; however, if the employer's policy provides for
fewer than 30 days of paid leave for organ or bone marrow
donation, then the employer shall not be eligible for the
credit under this Section.
As used in this subsection (j):
"Organ" means any biological tissue of the human body that
may be donated by a living donor, including, but not limited
to, the kidney, liver, lung, pancreas, intestine, bone, skin,
or any subpart of those organs.
"Organ donor" means a person from whose body an organ is
taken to be transferred to the body of another person.
"Private employer" means a sole proprietorship,
corporation, partnership, limited liability company, or other
entity with one or more employees. "Private employer" does not
include a municipality, county, State agency, or other public
employer.
This subsection (j) is exempt from the provisions of
Section 250 of this Act.
(Source: P.A. 101-1, eff. 2-19-19; 102-669, eff. 11-16-21;
102-700, Article 30, Section 30-5, eff. 4-19-22; 102-700,
Article 110, Section 110-905, eff. 4-19-22; revised 6-1-22.)
Section 99. Effective date. This Act takes effect upon
becoming law.