HB3743 Summary

• Prohibits new agreements from being entered into under the Economic Development for a Growing Economy (EDGE) Tax Credit Act during the 99th General Assembly.

• Allows existing EDGE tax credit agreements to continue, with taxpayers able to claim credits against Illinois income tax liability or, for certain qualifying businesses, against withholding obligations.

• Maintains existing limitations on EDGE credits including caps on credit amounts, restrictions to 10 taxable years of use (or 15 years for Corporate Headquarters Relocation Act participants), and carryforward provisions for unused credits.

• Takes effect immediately upon becoming law.