IL SB1656

Extends the personal property tax replacement income tax credit for investments in qualified property from costs incurred on or before December 31, 2018 to costs incurred on or before December 31, 2023.

Allows taxpayers to claim investment credits for qualified property placed in service through December 31, 2023, and for costs incurred pursuant to binding contracts entered into on or before that date.

Takes effect immediately upon becoming law.