IL SB2833

Amends the Economic Development for a Growing Economy Tax Credit Act to impose a cap of $161,000,000 in credits that may be awarded in State Fiscal Year 2015 and all subsequent fiscal years.

Cap does not apply to tax credits that are carried forward under Section 211 of the Illinois Income Tax Act.

Maintains existing provisions allowing up to 10-year credit duration, or up to 15 years for qualifying corporate headquarters relocations (limited to 60% of maximum credit per year).

Takes effect immediately upon becoming law.