IL HB3555

Amends the Illinois Income Tax Act to create a renewable energy tax credit for manufacturing taxpayers beginning in taxable year 2016.

Provides a tax credit equal to 5% of the cost of renewable energy resources used by the taxpayer during the taxable year.

Allows unused credits to be carried forward and applied to tax liability in the 5 following taxable years, with earlier credits applied first.

Exempts this tax credit from the automatic sunset provisions in Section 250 of the Illinois Income Tax Act.