IL SB3182

Reinstates the training expense credit for tax years ending on or after December 31, 2010 and on or before December 30, 2020.

Increases the training expense credit rate from 1.6% to 2% of training expenses for the reinstated period.

Allows training expense credits earned on or after December 31, 2010 to be carried forward for up to 5 years.

Permits taxpayers to claim credits for educational and vocational training in technical or skilled fields that were deducted from gross income.

Takes effect immediately upon becoming law.