IL SB2106

Amends the Economic Development for a Growing Economy (EDGE) Tax Credit Act to allow certain pharmacy, health, and wellness businesses to claim tax credits against their withholding tax obligations rather than income tax liability

Eligible businesses must maintain corporate headquarters in Illinois, operate at least 500 retail locations statewide, and employ at least 2,500 workers in full-time or full-time equivalent positions

Qualifying businesses must have experienced an Illinois net loss or net loss deduction in the year the credit is awarded or within the two preceding years

Companies must demonstrate that some employees would be at risk of termination without access to the credit

Applications for an Agreement under this provision must be submitted within 120 days after the effective date of the legislation