IL HB2251

Establishes a $15,000 annual income tax credit for individuals who were residents of another state and first became Illinois residents in a taxable year beginning January 1, 2019 or later.

Requires applicants to agree to reside in Illinois for at least 10 consecutive years and apply to the Department of Revenue to receive the credit.

Limits the program to a maximum of 50,000 approved applications; married couples filing jointly must each separately qualify and count as one application together.

Allows unused credits to be carried forward for up to 5 tax years but prohibits carryback; credits reduce tax liability only to zero.

Requires the Department to recapture all awarded credits from taxpayers who fail to reside in Illinois for 10 consecutive years, except in cases of death or disability; credit is exempt from automatic sunset provisions.