IL HB5172

Creates a new tax credit for taxpayers engaged in hydroponics, equal to 50% of costs incurred but not exceeding $2,500 per taxable year.

Eligible costs include materials and supplies used in hydroponic production of food intended for consumption.

Credit applies to taxable years ending on or after December 31, 2018, and is applied against Illinois income tax liability under Section 201.

Excess credits that exceed tax liability may be carried forward and applied to the next 5 taxable years, with earlier credits applied first.

Defines hydroponics as growing produce for consumption in sand, gravel, or liquid with added nutrients, but without soil.