IL SB2202

Creates a 50% income tax credit on the purchase price of manufactured homes for taxable years beginning on or after January 1, 2022

Requires the manufactured home to be a first-time purchase for use as a dwelling and affixed to a permanent foundation in Illinois within 30 days of sale

Defines "manufactured home" as a structure on a permanent chassis that is transportable, designed as a dwelling, contains plumbing/heating/AC/electrical systems, has an angled roof, and is at least 650 square feet

Excess credits that exceed tax liability may be carried forward and applied to tax liability for up to 5 years following the credit year

Credit cannot reduce taxpayer liability below zero; exempt from sunset provisions under Section 250