IL HB3319

Amends the Economic Development for a Growing Economy Tax Credit Act to allow recipients to request a certificate of transferability for unclaimed tax credits from the Department of Commerce and Economic Opportunity.

Permits transferability certificates to be transferred or sold by the recipient to another Illinois taxpayer.

Requires transferors and sellers to notify the Department of Revenue within 30 days of any transfer or sale, including details such as credit balance, certificate number, EDGE agreement number, tax identification numbers, transfer date, and amount transferred.

Specifies that transferring or selling the credit does not extend the time period in which the credit can be used, and the carryforward period begins from the original grant date by the Department.

Authorizes the Department of Revenue to disallow or recapture transferred credits from the transferee if the transferor lacked rights to claim the credit at time of transfer, with the transferee's recourse limited to action against the transferor.