IL HB5065

Extends the Illinois live theater production tax credit sunset date from January 1, 2027 to January 1, 2039

Tightens pre-Broadway production eligibility requirements by requiring a scheduled Broadway presentation within 18 months of the Illinois show, replacing the previous "goal of having" a Broadway presentation

Allows unused credits from the $2,000,000 annual allocation for long-run and pre-Broadway productions to be transferred to commercial Broadway touring shows in the same fiscal year

Maintains the existing $6,000,000 annual tax credit cap for fiscal years ending on or after June 30, 2025, split among long-run/pre-Broadway productions, commercial Broadway touring shows, and non-profit theater productions at $2,000,000 each