IL HB2456

Establishes a $15,000 annual income tax credit for police officers and firefighters who relocate to Illinois from another state beginning in tax year 2019 or later.

Eligibility requires the taxpayer to commit to residing in Illinois for at least 10 consecutive years and apply to the Department of Revenue for approval.

Department of Revenue may approve no more than 50,000 applications total; married couples filing jointly must each separately qualify but count as a single applicant for the cap.

If a taxpayer fails to maintain Illinois residency for 10 consecutive years (except in cases of death or disability), the Department must recapture the entire credit amount awarded.

Unused credit amounts may be carried forward up to 5 years but cannot be carried back; the credit is exempt from the standard tax credit sunset provisions.