IL HB2890

Creates an Illinois tourism tax credit for taxable years beginning January 1, 2021 through December 31, 2023, allowing taxpayers to claim a credit equal to eligible expenses incurred during qualified travel within the state.

Limits the credit to a maximum of $5,000 per taxpayer per taxable year for expenses related to food and beverages, lodging, transportation, live entertainment events, and conference or business meeting attendance.

Defines qualifying travel as occurring within Illinois at a destination at least 50 miles from the taxpayer's principal residence, excluding travel for which federal business expense deductions are available under Internal Revenue Code Section 162(a)(2).

Allows excess credits that exceed tax liability in a given year to be carried forward and applied to tax liability for up to 5 subsequent taxable years, with earlier credits applied first.

Directs the Department of Revenue to adopt rules necessary to implement and administer the credit provisions.