IL HB5668

Amends the Illinois Income Tax Act to create an income tax credit for taxpayers who open and operate a supermarket or grocery store in a food desert community.

Requires the Department of Commerce and Economic Opportunity to designate not more than 75 separate geographic areas as food desert communities by July 1, 2024, using criteria including population size, poverty statistics, U.S. Department of Agriculture data, and Centers for Disease Control and Prevention information.

Provides the first taxpayer to open a supermarket or grocery store in a designated food desert community (on or after designation) with a tax credit equal to the total property taxes assessed at that location for the full taxable year the business is open to the public, applicable to taxable years beginning January 1, 2025 through December 31, 2028.

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

Defines "supermarket or grocery store" as a retail facility of at least 18,000 square feet with at least 90% occupied by a full-service supermarket or grocery store.