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IL SB3539
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Chapin Rose
Click for details
AI Summary
- Creates a 10% income tax credit for manufacturing capital expenditures, increasing to 15% for investments in rural or economically challenged areas as determined by the Department of Commerce and Economic Opportunity
- Caps the annual credit at $10,000,000 per taxpayer, or $20,000,000 for investments in rural or economically challenged areas
- Applies to taxpayers engaged in manufacturing (NAICS code 31-33) for taxable years beginning January 1, 2026 through January 1, 2036
- Prohibits claiming this credit if the taxpayer claims another credit for the same capital expenditure, and does not allow the credit to be carried forward or back
- Takes effect immediately upon becoming law
Legislative Description
INC TAX-MANUFACTURING
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/17/2026
Assignments2/5/2026
Full Bill Text
No bill text available