IL SB2458

Creates the Quantum Information Science Research and Development Tax Credit Program to position Illinois as a leader in quantum computing and quantum science technology applications

Provides a 13% income tax credit for qualifying quantum information science expenditures made by taxpayers, applicable to tax years ending on or after December 31, 2026

Caps the total aggregate credits awarded at $25,000,000 per calendar year

Qualifying expenditures must advance quantum information science research and development in Illinois and meet the criteria for the federal research activities credit under Internal Revenue Code Section 41

Unused credits may be carried forward for up to 5 taxable years; taxpayers cannot claim both this credit and the general research and development credit for the same expenditures