Illinois Senate bill in Session 104.
Status: in_committee. Latest action: May 22, 2026.
INC TAX-MANUFACTURING.
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.
| Date | Event | Detail |
|---|---|---|
| 2026-02-05 | Introduced | Bill introduced |
| 2026-05-22 | Status | in_committee |
| 2026-05-22 | Latest Action | 5/22/2026 - Senate: |